Been a tough week, it felt like all my stocks were down 15% on Monday. However a couple interesting things happened today. The first is extremely interesting, and give me hope.
Terra Industries (TRA) received an unsolicited bid from CF industries today (CF Industries makes $2.1B bid for Terra Industries). Pulling out my slide ruler, it seems that 2.1b would be 20.62 per share. Now to be honest, I fully expect TRA to tell them to pound sand. I certainly would not accept such a paltry premium. But it is a start and makes you wonder if we'll start seeing more M&A down the road.
CHCG announced theor preliminary earnings this morning (China 3C Group Announces Preliminary Fourth Quarter and Full Year 2008 Financial Results). I thought they were terrific. They are growing revenue at about 15% and they made 44 cents for 2008. This is a stock with a solid balance sheet trading at about 90 cents, making 44 cents and growing! All I can figure is the market thinks they are cooking the books.
Well, it is late. More on another day.
Commentary and Tracking of a Portfolio of Stocks using approach from "The Little Book that Beats the Market" by Joel Greenblatt aka Magic Formula Investing
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About Me
- Marsh_Gerda
- If you believe that you should not trust anyone over 30, then you should not trust me. I have lived in three different countries, have been married for 15+ years and have 4 great kids.
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