Concentrated Value Investing

Mohnish Pabrai, the Managing Partner of the Pabrai Investment Funds, has outperformed market indices over the last nine years by consistently believing in concentrated value investing. Pabrai likes to hold fewer stocks positioned in industries that he understands well, paying attention to two key variables: the intrinsic value of a business and its current price.
Q:  […]…
Original Source: www.valuestockplus.net

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 22:03

Five for the Weekend #13

This is the last weekend before the American presidential election. So there will be plenty of reporting throughout the weekend as news organizations remain in full-court-press mode down to the finish line on Tuesday. If you need a diversion, check out the following between now and Monday.
Via value blogger Sivaram, I came across presentations from Jim Grant’s latest investor conference….
Original Source: www.controlledgreed.com

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 17:31

Bookkeeping: ‘Rising Tide’ Performance Year 2, Week 13

Year 2, Week 13 performance of the mutual fundComments: Another volatile week in a series of incredible volatile weeks… 2 months in fact. With a big rally this week we avoided living through “the worst” month in stock market history and instead have been upgraded to “one of the worst” months in history. At this point, and this is just a gut call, the market feels empty - it can be moved so quickly and direction changed on a whim. This would make sense from the perspective that the marginal trader in this market the past half decade especially has…
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 14:00

Brazil to sign oil deal with Cuba

Brazil plans to sign oil deal with Cuba - CNN.com.
Last week I posted a link about a BBC story outlining the Cuban clames of very large off shore oil reserves. The folks at Petrobras (PBR: 26.87 -0.15 -0.56%) must be reading my blog, ’cause today I find the above article about PBR’s plan to sign and oil exploration deal with Cuba.
…
Original Source: timplaehn.com

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 12:38

Bookkeeping: Adding to Kendle International (KNDL) Ahead of Earnings

For those who are newer readers, my general ethos is avoid stocks around earnings - while many get a kick out of the gambling associated with piling into stocks ahead of earnings hoping for the huge win - I find it a very risky game that has more bad outcomes than good. But the big moves in the small % of situations keep luring the gamblers… err investors… back to this (ahem) strategy.Kendle International (KNDL) reports on the 4th and I am going against my normal rules to add quite a bit of exposure ahead of earnings. We’ve outlined this week how the contract research organizations have been a total disaster of late [O…
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 11:13

Bookkeeping: New Position in PIMCO Strategic Global Government Fund (RCS)

Continuining my path to full fledged fuddy duddy, I’ve been looking at bonds for return for the first time in my life. In normal bear markets bonds have held up reasonably well but in “this mess” bonds have been demolished along with stocks. All asset classes short of US Treasuries have been decimated. This led me to thinking about buying a high quality US Corporate bond ETF/closed end fund. You can get a lot more yield with “junk bonds” but at this stage of the economic cycle, with what I believe will be an ugly recession still ahead I don’t want to take that risk now since I can see quite a few companies going out of business in the next 18-24 months. Perhaps a year from now a junk bond would make more sense as the reality of the coming situation is further priced into the market….
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 9:38

Porsche Corners VW

Some of you may have been following the Porsche/VW saga these past weeks or you may have simple heard about what was going on. Here is a very quick & simplistic summary of what happened:

Hedge funds and other investors where heavily shorting VW stock
Porsche revealed a 74% stake in VW and options to buy more instead of a presumed 40 something % stake
…
Original Source: ei-forum.com

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 8:35

Bookkeeping: Cutting some Sequenom (SQNM)

Sequenom (SQNM) is jumping 10% today and is up from $14 to $18+ in just a few sessions so I’m going to take this opportunity to cut back hard on the position; we are selling in the $18.10s down from a 1.9% to 0.5% stake. The 50 day moving average is in the lower $19s and if technical analysis means anything in this era, we’ll be an avid buyer above that level if the stock shows strength.Until the market stops acting like a casino we are going to continue to retrench. Just as Wednesday the market lost 3%+ in a 10 minute span late in the day, yesterday we had a 2%+ rally in a span of 10 minutes on the S&P in the last half hour. Something just appears fishy for the market to be moving around this rapidly in 5-10 minute spans, especially late in the day….
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 8:14

US: How 2008 measures up to 1929?

Source: Portfolio.com…
Original Source: www.valuestockplus.net

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 7:24

Concord Camera Finally Liquidating

/img>Concord Camera (LENS) announced yesterday that its Board of Directors has unanimously approved a plan of dissolution and liquidation of their company. The company’s disposable camera business has been in steady decline and the leadership of the company seemed incapable of innovating new products or adapting to the situation.
…
Original Source: www.fatpitchfinancials.com

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 6:23

Bloomberg: Credit Tsunami Swamps Trade

A very interesting story on Bloomberg which leads to the question I posed yesterday in the coal piece - how much of the “global slowdown” is true supply/demand characteristics and how much is outside financial influences - in this case the inability to access credit. We’ll never know in aggregate but a lot of interesting anecdotal evidence is emerging that the credit situation is a major issue. Then once you have all that answered the next question is when does credit get back to a “new normal” and what will new normal look like. When you have those answers, please email me ;)…
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 5:00

Wall Street Journal: Universities Begin to Feel Crunch

All these stories we post continue a mosaic of higher costs of living for Americans in the long run as median wages falter. In the “richest country on Earth” many kids have been forced to borrow $20,$30,$40K to get higher education - creating a ball and chain around their lives for the first decade post graduation. Or robbing their parents the ability to save for retirement. The house ATM hid this situation for half a decade but now we’re seeing reality. Looks like c…
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 4:00

Weekly Links: Carnivals & Articles - October 31, 2008

Each Friday I highlight the Carnivals I participated in over the past week, along with any notable articles that I came across. For those readers not familiar with carnivals, it’s where personal finance bloggers submit their best articles of the week with one blog serving as the host. The entries are separated into various categories such as Investing, Credit, Debt, Budgeting, Frugality, Wealth Building, Money Management, Financial Planning, Insurance, Taxes, The Economy, Real Estate, et. al….
Original Source: feedproxy.google.com

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 3:30

What My 3 Year Old Son Knows About Money Already

This little story happened at the beginning of October, precisely before the first Montreal Canadiens game of the season. Since I am a big hockey fan (I promise I won’t write about the Canadiens until they go in playoff next spring!), I started last year to watch hockey with my son. He was watching 5 minutes and then he was gone with his truck. However, this year, he seemed to be more interested….
Original Source: www.thefinancialblogger.com

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 3:00

EBay…a strong buy!

Ebay… a long term BUY
Ebay recently announced its earnings and it continued its slide down to about 15$, despite some very impressive results, a profit of 492.2$M (compared to a loss of 935.6$M in the same period last year). The main reason why Ebay got killed is its own announcement that growth had slowed down, […]…
Original Source: www.intelligentspeculator.net

  31 Octubre, 2008| Fundamental Analysis | Comments (0) @ 3:00

BP: Financial Analysis through September 2008

BP, the former British Petroleum, recently a…
Original Source: http://feeds.feedburner.com/financial-gauges

  30 Octubre, 2008| Fundamental Analysis | Comments (0) @ 21:30

Sensible Investing Guides: In 50s

For people in this age group, the images of retirement will always come into mind. But for the majority of the people in this age group, this will be the time for a more sustained drive for wealth and income. This is possible because this will be the time when there will be higher income, great investment opportunities and fewer family costs (given that most of the kids here have finished their college education). As mentioned this will be the time for great investment opportunities that can help or push the wealth even higher.
…
Original Source: networthmasters.com

  30 Octubre, 2008| Fundamental Analysis | Comments (0) @ 21:20

Live Interview with the founder of MagicDiligence

/img>Tonight I am hosting a question and answer session with the founder of MagicDiligence, Steve Alexander, in the Value Investing News Forum….
Original Source: www.fatpitchfinancials.com

  30 Octubre, 2008| Fundamental Analysis | Comments (0) @ 19:11

Sequenom (SQNM) "Misses" But We Really Don’t Care

Near term results for Sequenom (SQNM) are really a moot point as we’re looking to mid 2009 forward on this story; the main issue in this new and (not so) improved environment is making sure young companies have cash to get them to the point where they turn cash flow positive. The N…
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  30 Octubre, 2008| Fundamental Analysis | Comments (0) @ 16:07

Thoratec (THOR) Smashes Earnings; Somehow Guides Up

As I expected Thoratec (THOR) demolished earnings expectations as this quarter’s sales came before the product recall of their heart device. What boggles me is they have the confidence to increase full year guidance. In full disclosure I did not listen to the conference call nor do I have access to analyst reports so I don’t know the full details of the recall but it sounded pretty serious on first glance. So while the results were expected to be strong this quarter, I’m surprised how adament they are on guidance. I see no further details in the press release on the recall. The stock in after hours is up 10% and right back to where it was ($24s) the trading session before the recall was announced. …
Original Source: http://feeds.feedburner.com/FundMyMutualFund

  30 Octubre, 2008| Fundamental Analysis | Comments (0) @ 15:24

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