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Aristofanis Papadatos  

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  • These Stalwarts Have Been Issuing Tons Of Shares [View article]
    Sam,
    Thank you for your comment.
    Just a note: PM has temporarily paused its buyback program this year, as it already has a high payout ratio, almost 90% (the cause is in part the strong dollar). At least it distributes all its profits to its shareholders, not to its management.
    Jul 21, 2015. 01:33 AM | 2 Likes Like |Link to Comment
  • These Stalwarts Have Been Issuing Tons Of Shares [View article]
    AZO, TRV, CACC, TMK have been executing great buyback programs.
    Jul 20, 2015. 03:09 PM | 1 Like Like |Link to Comment
  • These Stalwarts Have Been Issuing Tons Of Shares [View article]
    TF17,
    As I clearly wrote that the share count was reduced, of course I meant "2 shares for every share it retired". Your above calculations clearly depict what I meant in the article.
    I submitted the use of words you suggested, which is the most appropriate.
    Thank you for your comment.
    Jul 20, 2015. 12:41 PM | Likes Like |Link to Comment
  • These Stalwarts Have Been Issuing Tons Of Shares [View article]
    TF17,
    As I clearly wrote that the share count was reduced, of course I meant "2 shares for every share it retired". Your above calculations clearly depict what I meant in the article.
    Thank you for your comment.
    Jul 20, 2015. 12:33 PM | Likes Like |Link to Comment
  • Why Oil Rose Despite The Deal With Iran [View article]
    You will find this interesting:

    http://seekingalpha.co...
    Jul 16, 2015. 08:03 AM | Likes Like |Link to Comment
  • Why Oil Rose Despite The Deal With Iran [View article]
    Pg guy,
    This is actually what I said in the article. The increased oil exports of Iran will be offset by the reduced output of others.
    Thank you for reading and commenting.
    Jul 15, 2015. 02:49 PM | Likes Like |Link to Comment
  • Goodbye, Greece [View article]
    dieuwer,
    The Greek parliament will definitely vote yes to the package. Moreover, judging from the past, the easy recessionary measures, which only require the press of a button (wage cuts, pension cuts, tax hikes) will be implemented. On the other hand, the reforms require political will and hence they may not be implemented.
    Jul 14, 2015. 04:05 PM | 1 Like Like |Link to Comment
  • Goodbye, Greece [View article]
    Thank you for your comment.
    AsI said, both sides are responsible in part for the absolute failure so far.
    In reference to the dozens of $B provided to Greece, unfortunately almost the full amount has been used to pay off debt, as it has gone completely out of control. For instance, Greece has to make debt payments that are almost 15% of its GDP this year. There is no other country in this situation.
    Jul 14, 2015. 12:52 PM | 2 Likes Like |Link to Comment
  • Goodbye, Greece [View article]
    Patrick,
    Although you are not familiar with Greece, you got it right. The country has been governed by pseudo-liberals in the last 40 years who are essentially parasitic socialists that have been "feeding" bureaucracy and corruption to the extreme.
    I also agree that people should spend much less on their weddings.
    Jul 14, 2015. 12:46 PM | 4 Likes Like |Link to Comment
  • Goodbye, Greece [View article]
    Seriouspatt,
    Obviously Europeans will do their best to postpone implementing a viable solution to the distant future. Unfortunately, European and Greek politicians have this as a top priority so that someone else will take the decision with the political cost.
    Thank you for reading and commenting.
    Jul 14, 2015. 11:51 AM | 3 Likes Like |Link to Comment
  • Why Travelers Companies Is Pronouncedly Undervalued [View article]
    Paul,
    You are right that the amount of statutory capital that an insurer holds may increase and the stock price may drop if the book value drops.
    However, the Fed has proven that it does not want to negatively surprise the stock market and hence I expect the hikes of interest rates to be slow. In that case, the book value may not decrease or may decrease just a bit because the maturing bonds (and their roll-over bonds) will always be boosting the book value and will thus be offsetting the impact of higher rates on the remaining bonds.You cannot be sure for the exact magnitude of the (temporary) effect of rising rates on the book value but you can be sure that the book value will keep growing in the long term, without significant temporary corrections if the rates rise smoothly.
    Jul 12, 2015. 05:19 PM | Likes Like |Link to Comment
  • The Most Secure DGI Stock [View article]
    Brad,
    I read it. HD is a great stock but it is too cyclical for me to rely on it. Fortunately, it entered the Great Recession with a very low payout ratio and hence it did not cut its dividend even though its earnings plunged. However, I have not studied this stock so obviously you know more.
    In reference to S&P, I am really impressed by its risk/reward ratio, most investors don't get it but it is only natural that investors disagree.
    Good luck on your investments...
    Jul 8, 2015. 02:17 PM | Likes Like |Link to Comment
  • Why Travelers Companies Is Pronouncedly Undervalued [View article]
    Mikesdca,
    Just one note: the fact that a stock has been trading at a low P/E is worth noting but it does not mean that it will keep trading at a low P/E forever.
    Instead you have a wild card; the P/E may easily increase 50% (from 10 to 15) at some point in the future so you will profit from 2 factors: earnings growth and P/E expansion.
    Look at what happened to other stocks that were trading at low P/E for years while growing: CACC, TMK, LMT, LLL, AZO.
    Jul 8, 2015. 01:35 AM | Likes Like |Link to Comment
  • Why Travelers Companies Is Pronouncedly Undervalued [View article]
    Jaques,
    Great choice. If I were to choose 2 P/C insurers, I would choose CB (before the takeover) and TRV.
    Jul 8, 2015. 01:30 AM | 1 Like Like |Link to Comment
  • Why Travelers Companies Is Pronouncedly Undervalued [View article]
    Pascout,
    I mentioned one reason in the article. As interest rates start to increase, the book value of the bond portfolio of the company will decrease.
    However, I recommend ignoring this effect of rates because these are only paper (temporary) losses, as the company keeps all bonds till maturity.
    Jul 8, 2015. 01:28 AM | Likes Like |Link to Comment
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