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Reflections on Value Investing

"The market can remain irrational longer than you can remain solvent" - John Maynard Keynes

Saturday, February 26, 2005

Sold out of AES - 100%++

In this post I recommended AES at $8 as well as oil sands split trust at 21.81 CAD, OCA, Rising Rates Opportunity ProFund and Pfizer LEAPS. Well i've sold out nearly all of my AES and at $16.81USD, today's price, I would sell all of it. It is a good company with good prospects but the key to value investing is getting out when fair value is reached. I bought some of my AES around $2!

Oil Sands Split Trust is currently trading at $62.5 CAD, nearly 200% up from where I recommended it. I'd be waiting for another double from here. The Pfizer LEAPS have done very poorly and RRPIX is up slightly. I posted that I had sold out of OCA a while ago. In this post I recommended

Oil Sands Split Trust - 25%
AES - 20%
OCA - 20%
RRPIX - 15%
WPEAG.X - 10%
(These don't add up to 100% because I suggested leaving some cash aside).
Given that I posted on June 8th to get out of OCA that's a pretty good run, up around 60%.

I don't think i'll be recommending entry points in the future, but I may.

posted by Neil # 2:46 AM 0 comments

Friday, February 25, 2005

Ivernia (ivw.to)

Ivernia (IVW) is up around 100% from my initial analysis . The fundamentals remain strong and the lead stock on the LME keeps dropping (the number of tonnes of lead available in registered storage). I dont think it's a double from here but there is still 30-40% left in it!

posted by Neil # 12:51 AM 0 comments

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Disclaimer and Disclosure Analyses are prepared from sources and data believed to be reliable, but no representation is made as to their accuracy or completeness. I am not paid by covered companies. Strategies or ideas are presented for informational purposes and should not be used as a basis for any financial decisions.
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