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  • created personal space. 8 min ago
  • jrhodes commented on Charles Sizemore's article 9 min ago
    The Right Way to Buy Kinder Morgan
    I’ve been a big believer in midstream master limited partnerships (MLPs) for a long time. The U.S. domestic energy revolution has created massive...
    View all 1 comment
    jrhodes 05-20 16:11
    • I'm wondering why you (or anyone else) has not even mentioned the KMI warrants. with a strike price of $40.00 and four (4) years to maturity the warrants would seem like a slam-dunk for speculators.
  • port4olios commented on page 13 min ago
    Buffett-Munger Screener - Good Companies at Fair or Undervalued Prices -- GuruFocus.com
    View all 6 comments
    port4olios 05-20 16:08
    • how do you calculate the investment returns? what prices do you use? do you include any transaction costs?
  • guruhl updated album 15 min ago
    My Album
    total 167 pictures
  • MritikCapital commented on MritikCapital's article 37 min ago
    Phillips 66 – Fairly Valued at 66
    We believe Phillips 66 (PSX) is fairly valued at $66 while providing significant opportunity for value creation. Phillips 66 is at the crossroads...
    View all 3 comments
    MritikCapital 05-20 15:44
    • Hi C.W.R,
      Thanks for reviewing the article and comments. I totally agree that at time of spin PSX was great value and provided great margin of safety. However I hope you can check back in a year and comment on this article again. I am optimistic about the 2013 H2 spin off of some of the midstream assets into an MLP and continued good capital allocation by PSX management.

      By the way please review the article in a day once the article is corrected to include the images from the sections (a) Balance Sheet & Profitability (b) Management (c) Value and Price.
  • guruhl updated album 42 min ago
    Default Album
    total 33 pictures
  • gurufocus updated album 43 min ago
    Default Album
    total 13 pictures
  • gurufocus updated album 44 min ago
    Default Album
    total 12 pictures
  • C.W.R. commented on MritikCapital's article 59 min ago
    Phillips 66 – Fairly Valued at 66
    We believe Phillips 66 (PSX) is fairly valued at $66 while providing significant opportunity for value creation. Phillips 66 is at the crossroads...
    View all 2 comments
    C.W.R. 05-20 15:22
    • This article would have been a lot more valuable if it were written a year ago.
  • yoramhtm made a stock note of $PSX: May 21 2013 2 hr ago
    $PSX: May 21 2013
    Comment
  • Cyberdragon made a stock note of $SNV: undervalue 2 hr ago
    $SNV: undervalue
    Comment
  • Charles Sizemore posts: 2 hr ago
    Triple-Dip Recession in France…What Now?
    The numbers came in last week: France is in recession again, for the third time in five years. A triple-dip recession. Sacre bleu! There is some debate as to whether this is a double-dip or a triple-dip recession; that mini-recession in 2012 was...
    Comment
  • MritikCapital commented on MritikCapital's article 2 hr ago
    NOV - A Good Time To Buy
    I first noticed National Oilwell Varco, Inc. (NOV) when Warren Buffett's Berkshire Hathaway reported a stake in the company in August 2012. I was...
    View all 20 comments
    MritikCapital 05-20 13:29
    • Hi,

      NOV management has decided to increase dividend by 100% to $0.26/Qtr. At current price of $68.50 this would imply a modest dividend of 1.5% but which a small payout ratio of 16.5% to projected 2013 earnings.
  • MritikCapital commented on MritikCapital's article 3 hr ago
    Phillips 66 – Fairly Valued at 66
    We believe Phillips 66 (PSX) is fairly valued at $66 while providing significant opportunity for value creation. Phillips 66 is at the crossroads...
    View all 1 comment
    MritikCapital 05-20 13:09
    • Hi,
      Please note that this article is missing a few images and edits and it seems like an interim draft got published. I am working with the GF Editors to amend the article and add the missing information. Please check back later for the full version of this article.

      Thanks
  • Holly LaFon posts: 3 hr ago
    Vanguard's Jack Bogle Expects 7% Return for Stocks
    <div class="nobrtable"><object id="cnbcplayer" height="380" width="400" classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=9,0,0,0" ><param name="type"...
    Comment
  • Cyberdragon made a stock note of $CTC: american bull long 3 hr ago
    $CTC: american bull long
    Comment
  • SeaBud commented on GuruFocus's article 3 hr ago
    John Hussman: Not In Kansas Anymore
    On overvalued, overbought, overbullish conditions Last week, Investors Intelligence reported that the percentage of bullish investment advisors...
    View all 1 comment
    SeaBud 05-20 12:37
    • I don't understand this article on gurufocus - a value website. There are 3 supposed indicators in this article: Shiller p/e, investment advisors and technical analysis. First, as a devote "non-technician", any article with "Bollinger bands" generally has me heading the other way. As this is a "value" oriented website, I think most here agree.

      But I read on because it mentioned Shiller P/E - a valuation metric I respect. However, the Shiller p/e is STRONGLY warped by the earnings destruction in '07-09 (especially banks - which were a great investment thereafter as earnings normalize). I suspect the data from the crash years are the abnormality rather than representing future earnings well. Still, this is a red flag to me.

      It seems hard to imagine anyone caring what "non-guru" investment advisors say. The only time they are of value is when they are extreme (super negative or super bullish) in which case they do create risks and opportunities if you play off their warping the market. However, it is hard to argue we are at that level when barely over half of managers are bullish and vast numbers of Americans are staying out of the equity markets and buying an asset (Treasuries) that will likely produce a negative return.

      I do think many "safe dividend" stocks (P&G, JNJ, Kimberly) are priced well beyond their likely growth so that 2-3% rise in equity value is likely (but you get 3% dividends, so that isn't too bad). But, back to the article, to say that the tea leaves flash "crash" and "extreme" is unpersuasive to this value investor. Caution is in order, especially given the premium placed on certain safe dividend stocks, but if you think WFC is ready to crash at a p/e of 10.5 (and other favorable value metrics), I'd be very surprised (same for Intel, MSFT, Volkswagen, VOD).
  • Monica Wolfe posts: 3 hr ago
    Mario Gabelli's First Quarter Increases
    Mario Gabelli’s current portfolio contains 793 stocks with 41 of those being new buys from the first quarter of 2013. The portfolio is currently valued at $15,629 million. Gabelli is the founder, chairman and CEO of GAMCO, a multi-billion dollar global...
    Comment
  • MritikCapital posts: 4 hr ago
    Phillips 66 – Fairly Valued at 66
    We believe Phillips 66 (PSX) is fairly valued at $66 while providing significant opportunity for value creation. Phillips 66 is at the crossroads of an energy revolution in North America and CEO Greg Garland has all the makings of an excellent capital...
    Comment
  • Canadian Value posts: 4 hr ago
    Warren Buffett Discusses Teaching University Classes in the 1950s and 1960s
    Warren Buffett was interviewed back in 2009 for a documentary called "Mr. Buffett the Teacher." The documentary was a project of the University of Nebraska. In the interview Buffett recalls the reason that he decided to teach a course on investing and...
    Comment
  • Gordon Pape posts: 4 hr ago
    Car Rental Companies Are in High Gear
    Contributing editor Glenn Rogers is back with us this week and once again he has travel on his mind. Glenn is a successful businessman, entrepreneur, and investor who has worked in both Canada and the U.S. He now resides in southern California. Here is...
    Comment
  • GuruFocus posts: 4 hr ago
    John Hussman: Not In Kansas Anymore
    On overvalued, overbought, overbullish conditions Last week, Investors Intelligence reported that the percentage of bullish investment advisors moved to 54.2% (from 52.1% the prior week) with just 19.8% of advisors bearish. The Shiller P/E (S&P 500...
    Comment
  • GuruFocus posts: 4 hr ago
    Weekly Guru Bargains Highlights: GOLD, GFI, SAPMY, APPL, VOLC
    According to GuruFocus updates, these stocks have declined the most since Gurus have bought. Golden Land Property Development Public Company Li (GOLD): Down 35% Since John Hussman Bought in the Quarter Ended on 2012-12-31 John Hussman added to his...
    Comment
  • Canadian Value posts: 4 hr ago
    Vulture Investing Guru Wilbur Ross Calls Bank of Ireland His Best Recent Investment
    In the video below Ross discusses the very successful investment he made in the Bank of Ireland (IRE) at a point of maximum distress. He refers to it as his best recent investment. He isn't planning to invest everywhere in Europe as Ireland had a lot of...
    Comment
  • Dividends4Life posts: 5 hr ago
    13 Dividend Stocks Delivering What's Important
    For many investors, there is no clear conviction as to how they should invest. Today’s investments are guided by what was read yesterday, and the popular media is constantly churning out new and different ideas. Granted it makes for some...
    Comment
  • Dividend posts: 5 hr ago
    My 4 Favorite Dividend Growth Stocks from Abroad
    Europe is still on fire. The economy is in a triple-dip recession and the European member states cut spending. The unemployment is high but every economic depression could be a solid basis for future engagements in the stock market. Today I scout for...
    Comment
  • GuruFocus posts: 5 hr ago
    Weekly CEO Buys Highlight: TSC, WFR, CONE, LPSN, AMRC
    <h1>According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below: <iframe allowtransparency=true frameborder=0 scrolling=auto...
    Comment
  • gurujx posts: 5 hr ago
    Weekly CFO Sells Highlight: KEY, DIS, FSL, MHO, SYY
    According to GuruFocus Insider Data, the largest CFO sells during the past week were: KeyCorp, Walt Disney Co., Freescale Semiconductor Ltd., M/I Homes Inc. and Sysco Corporation. KeyCorp (KEY): CFO Jeffrey B. Weeden Sold 276,000 Shares CFO Jeffrey B....
    Comment
  • alicet236 posts: 5 hr ago
    Weekly CEO Sells Highlight: Danaher Corporation, Orbitz Worldwide Inc., 3D Systems Corporation and AVANIR Pharmaceuticals
    According to GuruFocus Insider Data, these are the largest CEO sales during the past week: Danaher Corporation, Orbitz Worldwide Inc., 3D Systems Corporation and AVANIR Pharmaceuticals. Danaher Corporation (DHR): President and CEO H. Lawrence Culp Jr....
    Comment
  • RLPIA wrote a new blog 7 hr ago
    Morning Coffee Pre-Market Wall Street News
    Tumblr Bought By Yahoo. Search engine Yahoo\'s ( YHOO) has announced the purchase of Tumblr for $1.1 billion. Tumbler is a social media mico-bl
    Comment
  • Dividend Mantra posts: 7 hr ago
    Two Reasonably Appealing Stock Ideas
    I recently wrote about the difficulties that us value/dividend investors face in allocating capital to equities right now. The S&P 500 is up 17% YTD and we're only a little more than five months into the year. Are many companies worth 17% more now than...
    Comment
  • Dividend Growth Investor posts: 7 hr ago
    Clorox Hikes Dividends, but is it a buy at current levels?
    One aspect of dividend investing that is very appealing to me is the consistency of dividend increases for many of the dividend champions I own. I realize how I take these raises for granted, in the rare event when a stock I own freezes or cuts...
    Comment
  • The Science of Hitting, gurufocus, davidchulak and greg_c99 became friends 8 hr ago
  • John Huber made a stock note of $BOBS: Price is 11. Interesting write up at OTC 9 hr ago
    $BOBS: Price is 11. Interesting write up at OTC
    Comment
  • batbeer2 commented on batbeer2's article 9 hr ago
    Ryanair offers downside protection
    ThesisRyanair is the lowest-cost European airline. This is not likely to change soon. The company sells at a modest premium to a pessimistic estimate...
    View all 2 comments
    batbeer2 05-20 06:22
    • Analysts are currently optimistic about the future of this company.

      http://www.independent.ie/business/irish/davy-raises-ryanairs-target-share-price-to-7-on-back-of-boeing-deal-29144588.html

      After two years and > 90% appreciation, the thesis (based on liquidation value) no longer holds. The stock is now into growth territory. FWIW, I believe that is where it should be.

      I'll keep tracking this one just in case some scare causes the price to drop below liquidation value once more. If that happens, I''l be back.

Yesterday

  • yoramhtm made a stock note of $CST: May 15 2013 13 hr ago
    $CST: May 15 2013
    Comment
  • skl_c9 made a stock note of $NOV: Looks great 13 hr ago
    $NOV: Looks great
    Comment
  • occam42 made a stock note of $SFY: druckenmiller 13 hr ago
    $SFY: druckenmiller
    Comment
  • Herkshire Bathaway commented on page 17 hr ago
    Global Stock Market Valuations and Expected Future Returns
    View all 43 comments
    Herkshire Bathaway 05-19 23:05
    • Nwoodman,
      Fully agree with you. Resources boom fading out, growth likely to be stagnant with valuations for non defensive stocks to be depressed for the medium term as investors get off the juice. Damn that was some good shit though.
  • Sally Jones posts: 21 hr ago
    Warren Buffett Vintage Photos
    Even Berkshire Hathaway’s Warren Buffett, “the Oracle of Omaha” eats ice cream bars and plays ping pong. Earlier this month, The Wall Street Journal online posted a series of very memorable Warren Buffett photos with excellent captions, called...
    Comment
  • guruek posts: 21 hr ago
    Weekly CFO Buys Highlight
    According to GuruFocus Insider Data, these are the largest CFO buys during the past week. The overall trend of CFOs is illustrated in the chart below: <iframe allowtransparency=true frameborder=0 scrolling=auto...
    Comment
  • guruek posts: 22 hr ago
    Weekly Top Insider Sells
    According to the GuruFocus Insider Data, these are the largest insider sells during the past week. The overall trend of insiders is illustrated in the chart below: <iframe allowtransparency=true frameborder=0 scrolling=auto...
    Comment
  • seb1215 posts: 23 hr ago
    Warren Buffett’s “Two-Column Valuation Method”
    Warren Buffett revealed his magical “Two-Column Valuation Method” investment process for the first time publicly on page 6 of Berkshire Hathaway’s 2010 Annual Report. (Buffett later republished his “Two-Column Method” on page 99 of his 2011...
    Comment
  • greg_c99 commented on Gusto Duel's article 23 hr ago
    “A share of stock is a slice all the way through the company” - Overstock (OSTK)
    Recently, Overstock (OSTK) traded for less than $8 per share and visited the 52low list. I think the company makes a worthwhile investment...
    View all 20 comments
    greg_c99 05-19 16:25
    • 25$ a share today. Still long?
  • Cyberdragon made a stock note of $HOLL: margin safety 69% 05-19 13:17
    $HOLL: margin safety 69%
    Comment
  • MritikCapital commented on MritikCapital's article 05-19 09:03
    CST Brands – Value in the Corner
    I came across CST Brands (CST) as I follow spin-off situations closely. CST Brands was spun-off on May 01 2013 from Valero Energy Corporation (VLO)....
    View all 10 comments
    MritikCapital 05-19 10:03
    • Hi Crosshair,
      I have updated the xls with the corrected formula for Price that now correctly includes the net debt and uses fixed cash column.

      Pc = (J21*J5-J12+J11)/J14
      Pricre = (EV - NetDebt)/NoOfShares.

      Something for us to consider is how management will use the free cash flow since this business is going to be cash flow positive. I don't believe management has articulated their capital allocation strategy yet. The following are the possibilities:
      1) They pay down debt.
      2) They use it for accelerated organic growth or acquisitions.
      3) They pay a dividend or buyback shares.

      All 3 of these will increase the per share intrinsic value of CST. I think if interest rates stay slow for extended time it is better to keep some of the leverage. Anyway for the purpose of my price projection to 2017 I have assumed cash generated to build net of taxes which I think is conservative.

      Let me know if you have more feedback once you review.
  • Investing Caffeine posts: 05-19 08:32
    No Free Lunch, No Free Sushi
    Everybody loves a free lunch, myself included, and many in Japan would like free sushi too. Despite the short term boost in Japanese exports and Nikkei stock prices, there are no long-term free lunches (or free sushi) when it comes to global financial...
    Comment
  • Dividend posts: 05-19 07:35
    My 4 Favorite Stocks With Growing Dividends From Last Week
    Last week, 36 stocks and two ETFs announced a raise in dividends. It’s great to see how the American dividend stock machine works. Compared to the number of stocks from the recent weeks, the current results are still thin but solid. The list of the...
    Comment
  • sofiarebuelta made a stock note of $XOM: yield: 18,8%nROCE: 35%nmarket cap: 403 bnninversores: yacktman, jeremy grantham, bill frels acaban de compraro 05-19 05:53
    $XOM: yield: 18,8%nROCE: 35%nmarket cap: 403 bnninversores: yacktman, jeremy grantham, bill frels acaban de compraro
    Comment
  • sofiarebuelta made a stock note of $CVX: yield: 19,19%nROCE: 32.8%nmarket cap: 238bnninversores: dodge 05-19 05:41
    $CVX: yield: 19,19%nROCE: 32.8%nmarket cap: 238bnninversores: dodge
    Comment
  • sofiarebuelta made a stock note of $HRS: yield: 19,20nROCE: 56%nmarket cap: 5,4bnninversores: david dreman y otros acaban de comprarnnegocio: tecnologia 05-19 05:12
    $HRS: yield: 19,20nROCE: 56%nmarket cap: 5,4bnninversores: david dreman y otros acaban de comprarnnegocio: tecnologia
    Comment
  • sofiarebuelta made a stock note of $LMT: yield: 11,9%nROCE: 90,7%nmarket cap: 33bnninversores: jeremy grantham, eveillard y otros acaban de comprarnnegocio: tecnologia 05-19 04:58
    $LMT: yield: 11,9%nROCE: 90,7%nmarket cap: 33bnninversores: jeremy grantham, eveillard y otros acaban de comprarnnegocio: tecnologia
    Comment
  • sofiarebuelta made a stock note of $AAPL: yield: 14,20nROCE: 1016%nmarket cap: 407 bnninversores: Soros, [url=http://www.gurufocus.com/StockBuy.php?GuruName=Chuck+Royce]Chuck Royce[/url], [url=http://www.gurufocus.com/StockBuy.php?GuruName=Robert+Olstein]Robert Olstein[/url] acaban de comprar (entre otros) 05-19 04:32
    $AAPL: yield: 14,20nROCE: 1016%nmarket cap: 407 bnninversores: Soros, [url=http://www.gurufocus.com/StockBuy.php?GuruName=Chuck+Royce]Chuck Royce[/url], [url=http://www.gurufocus.com/StockBuy.php?GuruName=Robert+Olstein]Robert Olstein[/url] acaban de comprar (entre otros)
    Comment
  • sofiarebuelta made a stock note of $HFC: yield: 36%nROCE: 79%nmarket cap: 9,6bnninversores: jeremy grantham, chuck roycennegocio: pretoleum refiner 05-19 04:22
    $HFC: yield: 36%nROCE: 79%nmarket cap: 9,6bnninversores: jeremy grantham, chuck roycennegocio: pretoleum refiner
    Comment
  • sofiarebuelta made a stock note of $AFL: yeld: 15,10nROCE: 149nmarket cap:23bnninversores: grantham acaba de comprar (y otros que no conozco)nnegocio: aseguradora (de vida y de salud) 05-19 04:17
    $AFL: yeld: 15,10nROCE: 149nmarket cap:23bnninversores: grantham acaba de comprar (y otros que no conozco)nnegocio: aseguradora (de vida y de salud)
    Comment
  • sofiarebuelta made a stock note of $HFC: yield: 36%nROCE: 89%nmarket cap: 9,6bnninversores: jeremy grantham, chuck royce acaban de comprarnnegocio: pretoleum refining 05-19 04:12
    $HFC: yield: 36%nROCE: 89%nmarket cap: 9,6bnninversores: jeremy grantham, chuck royce acaban de comprarnnegocio: pretoleum refining
    Comment

2013-05-19

  • batbeer2 commented on batbeer2's article 05-19 02:56
    Legg Mason, Hawkins and Heinz - The Case for Legg Mason
    Mason Hawkins probably understands the business of asset management better than most. After all, he's been running Southeastern Asset Management for...
    View all 5 comments
    batbeer2 05-19 03:56
  • C.W.R. commented on Canadian Value's article 05-19 01:43
    Jim Rogers Tells Us When to Start Buying Gold
    Is the gold rush over? Or is this just one last great buying opportunity? Jim Rogers owns gold even though he was expecting a sell-off. He thinks...
    View all 1 comment
    C.W.R. 05-19 02:43
    • Rogers is a commodity guy. Buffett is a stocks guy.

      I would rather take advice on gold from a commodities guy.

      I find it interesting he didn't sell even though he knew it would fall.
  • C.W.R. commented on Crafool's article 05-19 01:20
    Microsoft, Quality, Durable, High Yielding, liquidity and CHEAP!!!
    It is completely bizarre that we see investors husbanding cash and holding Treasury bonds rather than investing in some of the best companies in the...
    View all 24 comments
    C.W.R. 05-19 02:20
    • Another point about the rise of MSFT. Take a look at the ROE.

      According to the gurufocus 10-year financials, back in '05 it was 25.50 and in '06 it was 31.40.

      Last year ROE was 25.60 and lately it is 31.60.

      From 25 in '05 ROE rose to 48 in '08. Was the company doing anything different than it is doing now? I don't follow the minutia of the company but I would think not. They do what they do what any company with a moat does and they suffer the vagaries of the market the same as the rest.
  • C.W.R. commented on Crafool's article 05-19 01:00
    Microsoft, Quality, Durable, High Yielding, liquidity and CHEAP!!!
    It is completely bizarre that we see investors husbanding cash and holding Treasury bonds rather than investing in some of the best companies in the...
    View all 23 comments
    C.W.R. 05-19 02:00
    • Crafool,

      Judging by your past articles, you have a knack for writing articles and calling stocks cheap when they are really cheap. So good job.

      Regarding your call on MSFT, it closed at $28.01 when you wrote the article and it is now at $34.87: a 24.5% paper profit.

      Looks like the bullish case won out... much to the chagrin of the novices and beginners who were gifting us with their "knowledge" in the comments no doubt. LOL

      I am guessing you are an owner vs. a renter of stocks. Will you sell your MSFT for a real profit soon after it passes $35 or will you let your winner run?

      Thanks again for this long, informative and timely article. Better to buy when a stock is suffering than when it is doing greatly. Great advice.

2013-05-18

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