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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: bruwin who wrote (58549)	11/23/2016 11:30:38 AM
From: Paul Senior	Respond to of 78814

Well, ok. I agree stock is not a value buy. So maybe it shouldn't be discussed here. Or, at least, acknowledged that it isn't a value stock or can't easily be identified as such (at least by some of us, e.g. me). Of course, in the same vein, could also be said that regarding the stock, if we were looking at it as a value stock on a value stock thread, then the possibility it will break support levels, or that it even has support levels, that would be an irrelevant consideration (here).

To: bruwin who wrote (58549)	11/23/2016 12:30:55 PM
From: E_K_S	Read Replies (1) \| Respond to of 78814

Maybe the new CEO will look to VOD's interest in merging/combining those assets in one or more of their markets. Last week VOD put out their interest in a press release Liberty chief: Dutch Vodafone deal probably doesn't signal more Asked whether the two companies' merging of Dutch operations could provide a template for more/bigger deals, Liberty CEO Mike Fries says "Hard to say, (but) I would probably say not." I bet market pressures make LBTYA & VOD talk more about revenue growing opportunities. This has/is already being done in the U.S. and it's just a matter of time for Europe to consolidate and expand, specifically into India. Vodafone loss doubles on India woes Maybe Latin America is where they are looking for growth. Liberty Global CEO on the Hunt for Deals in Latin America The Europe-focused cable company, backed by billionaire John Malone, is also one of the largest providers in Latin America and the Caribbean and is in a “strong operating position” in that region after purchasing Cable & Wireless Communications, CEO Mike Fries said in a phone interview. Earlier on Thursday, the company released quarterly results that narrowly missed analysts’ revenue estimates. FWIW, I own T for their interest in Latin America and expansion of Direct TV and Cell services there. I do like the sector too. LBTYA may have the most flexibility w/ the assets they have recently purchased. I still think India has the greatest growth potential in the long run. Remember value is created by management but first requires the basic assets to be located in the region than want to expand (ie Latin America vs Europe vs India). All three companies T, VOD & LBTYA may/could be good GARP plays. VOD is selling at/near's it's GN valuation. Good Investing EKS

To: bruwin who wrote (58549)	11/24/2016 4:00:03 PM
From: Spekulatius	2 Recommendations Recommended By E_K_S Jurgis Bekepuris Read Replies (2) \| Respond to of 78814

Re Assets - I disagree on the following statement The Value of those Assets, and here I refer primarily to Fixed, don't really benefit a shareholder until such time as a company is liquidated, or those Assets are producing a Revenue. Same could be said about BRK various assets. BRK does not pay a dividend, so unless there is a liquidation, what benefit does holding BRK stock to a shareholder? I own several asset rich companies. in some cases, theasset does not contribute to the income line, but the value is sill there. QUCT is an extreme example - they own a huge swath of ranch land in CA, that is worth a lot, but does not generate really any income. However, as long as QUCT does not fritter away the value of the land, the value will be there in the future as well. THe stock trades a huge discount to NAV and I don't necessarily expect this to close. I expect QUCT to at least appreciate at the same rate the assets and earnings (from the trust business grow ) do,and I am fine with that. If the discount to NAV would close, they would be a great windfall, but I don't necessarily expect this to happen. Another example is MAYS , which own very valueanle RE in Brooklyn, which is leased below prevailing market rates. Hedge funds went in and expect management to redevelop or monetize some properties, as these leases expire, but that did not happen, Management continues to do what they have been doing for years and rent them out - the discounts to MAYS NAV does not close and now these hedge funds are selling. I the end, this is all about managing assets. The liquidation endgame is hypothetical. A company like GOOG (which does not pay a dividend either manages their search business as an asset and tires to make it more valueanle, by growing earnings. A RE company tries to increase the value of their RE holdings, wether that is reflected in the income statement is a different matter. Malone is very good at manageing assets in the media business, while avoiding to pay taxes, as many times, his company don't show GAAP profits.