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  • xtddd commented on John Emerson's article 11-28 20:16
    Constructing an Intelligent Investment: Risk vs. Reward
    I have never favored calculating discounted cash flow, projecting growth rates or constructing spread sheets. I have always been of the opinion that...
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    xtddd 11-28 20:16
    • great! i always learn something useful from your articles! 
  • Mrinalini Chaudhuri posts: 11-28 20:10
    PepsiCo Keeps Getting Sweeter
    (PEP) has been playing well in the beverage industry and has provided a decent return to its investors over the years. PepsiCo is one of the world's leading food and beverage companies with over $66 billion...
  • alnyc commented on Bram de Haas's article 11-28 12:35
    Why I Bought More Of Horsehead Holding After The 15% Drop
    Horsehead Holding Corp (ZINC) is the largest zinc producer in the United States and a leading maker of zinc value-added products like zinc oxide and...
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    alnyc 11-28 12:35
    • Nicola,

      I think it’s time to load up the truck at this price, the risk of additional equity dilution is a real possibility but I don't think they will need to go there. And yes the tax credits were just approved but didn't really get too much press, good for you for doing your homework. I say the story hasn't changed all that much to warrant this drop in the stock price and think it has a lot to do with institutional buyers having restrictions to owning companies with these low valuations. I think patience will reward those of us who stuck around and if I could I would be buying more at these prices! 
  • alnyc commented on page 11-28 11:34
    Portfolio Stocks of Mohnish Pabrai
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    alnyc 11-28 11:34
    • Mocheng,
      this is a classic example of a company that is undervalued because of a temporary situation, ZINC replaced an 80 year old plant with a brand new one and has had ramp up issues causing the stock to crash. Remember the sticker price doesn't always reflect value. Remember his example in the video above when the stock price was less than the value of the company's assets? his mantra is heads I win big, tails I don't lose too much. Consider this, if ZINC was trading at 14 with an 80 year old plant and now has built a brand new one spending 500 million on it, what will the price of the stock be WHEN the plant is running at 100 percent capacity? 20? 30?
      current price 2.50 heads I win big the stock goes to 20 or 30, tails I don't lose that much it goes to zero I lose 2.50. I also think the odds of it going to zero are very small and so does monish who is way smarter than anyone I know.
  • michaelno commented on The Science of Hitting's article 11-28 11:12
    Confidence and Concentration Risk
    In a recent article, “Shortcomings in My Investment Process” (here), I mentioned something that’s inherent / ingrained in my way of thinking...
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    michaelno 11-28 11:12
    • Being able to know when you should add to a position or sell a position that is falling is one of the things that separates the great investors from everyone else. 

      First, you shouldn't have a strict rule. Don't say "I will sell if it falls 10%". Nearly every stock declines 10% at somepoint from a high during the year. Don't be a trader. 

      You also shouldn't have a rule of "I will buy if it declines 10%". Nearly every stock declines 10% at some pointe during a year and you will be reallocating money all the time. 

      Your philosophy should be "I will add to a company that is increasing in intrinsic value and I will sell the companies that are expected to decline in intrinsic value". A lot of companies deserve to fall in price because future earnings and sales are going to be lower. In late 2014 you should have gotten rid of oil stocks, not added to them. 

      If you own a great company with great management that increases in intrinsic value each year, such as Google, then become a decade long owner and add on dips. Only add to great companies when they become cheaper, not mediocre or poor companies that appear cheap. 
  • amyahlom commented on page 11-28 09:14
    Portfolio Stocks of George Soros
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    amyahlom 11-28 09:14
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  • snowballbuilder commented on The Science of Hitting's article 11-28 08:16
    Confidence and Concentration Risk
    In a recent article, “Shortcomings in My Investment Process” (here), I mentioned something that’s inherent / ingrained in my way of thinking...
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    snowballbuilder 11-28 08:16
    • Hi science interesting article and topic (aS usual...)

      If the stock of a company i already own go down i usually buy more , by doing this (add  and sitting on my assett) i ve built my most succesfull investments (recordati diasorin , Apple...)

      but i also have to say that in the only two cases in wich the stocks have collapsed  by 50% i was complety wrong with the Investments (in one case the company Is gone bankrupties in the other , many years later , Is still under the initial price cause bad management that Is Not acting in the shareholders interest... In BOTH case i ve sold the stock in severe loss... And that Is consistent with my investments philosophy of let my gems growth and compound while selling the errors/mediocre business one.

      As for the concentration i have 55% of my equity in 2 holdings (a bit less than 30% at cost) so the concentration Is BOTH a result of few and big positions (8 right now) and the growth and compound of the winners. 

      Best. Snow.
  • The Science of Hitting commented on The Science of Hitting's article 11-28 08:10
    Repurchases vs Capex: The Math (Part 1)
    In the comment section of my most recent article, a reader made a good suggestion: analyze the returns of Walmart’s (WMT) investment in CapEx...
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    The Science of Hitting 11-28 08:10
    • Olddog - In 2000, the Walmart family owned ~38% of the company; as of the most recent proxy, they're right around 50% (as you noted). I don't know how much of this reflects a motivation to get them back to a majority versus simply reallocating capital (more money coming out of the business than they know what to do with); as it relates to the future, the Walton family getting back over 50% clearly isn't slowing repurchases ($20 billion in the next two years). Just some thoughts; thanks for the comment!
  • Lead wrote a new blog 11-28 07:09
    Australian ore resources
    Understanding the facts Australia are in the fortunate position that iron ore could be found basically all over the country. It
  • Lead wrote a new blog 11-28 06:53
    Tradeore B2B Market - Iron Ore Mining News
    Tradeore Banking and Finance House Business Portal, is a Global Dynamo Generating growth Tradeore.com Bank & Finance house is lon
  • Lead wrote a new blog 11-28 06:47
    The Tradeore.com B2B Portal
    The focus on marketing The sole purpose of the collateral marketing concept as well as the marketing campaign has only one purpose
  • Lead wrote a new blog 11-28 06:42
    Commercial heavy duty truck certification
    United Arab Emirates (UAE) Tradeore B2B Marketplace - KAMAZ 2015/2016 There are many applicable specifications In the last co
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