Eric Fox

Motorola Keeps Destroying Value

Perhaps Motorola management should have considered that the sector was overvalued at the time due to investor hysteria over the Internet, instead of listening to short term oriented investors and analysts who kept telling them they had to get into this business.

Why Central Securities Corporation Looks Attractive

Let's try it again:

www2.bc.edu/~holderne/

click on research and then on article entitled:

Concentrated Ownership and Discounts on Closed-End Funds

Why Central Securities Corporation Looks Attractive

Here's the link, it didn't go through on the previous message:

www2.bc.edu/~holderne/ConOwnershi...

Why Central Securities Corporation Looks Attractive

Investors interested in CET should read this article. It is very old but mentions a lot about CET and Wilmot Kidd, its manager.

www2.bc.edu/~holderne/ConOwnershi...

Why Central Securities Corporation Looks Attractive

George...it's interesting that CET was probably one of the Closed end funds that were part of the 1929 mania that you wrote about here:

quantinvestor.wordpres.../

I wonder how many others besides CET are still around.

Why Central Securities Corporation Looks Attractive

Question - you say that the fair value is $3265 a share. What is the tangible book value per share of PRAC? Liquid publicly traded insurers will usually trade at a multiple of tangible book value.

Expect Oil Prices to Rise: Three Major Oil Exporters Warn About Production

It is a myth that the cost to find and develop oil and gas resources is continually moving higher. All the cost inputs into this process are intensely cyclical - this includes the cost to lease acreage, the cost to lease a rig, and other oil service costs.

Expect Oil Prices to Rise: Three Major Oil Exporters Warn About Production

Other facts about the OXY discovery - the 150-250 million BOE estimate is only based on the area delineated by six test wells ("We believe that there are between a 150 million and 250 million gross BOE of reserves within the small producing area delineated by the six wells drilled to date.")

OXY has 1.1 million acres that are potential for this.

Expect Oil Prices to Rise: Three Major Oil Exporters Warn About Production

To isaac - just speaking about the OXY discovery - the finding and development costs will be less than $10 a barrel ("The combined finding, development, and lifting costs are expected to be significantly less than $10 of BOE.")

Expect Oil Prices to Rise: Three Major Oil Exporters Warn About Production

Occidental just found a new oil field that contains 150-250 million barrels of oil. They found this in California, a mature area where supposedly there is no oil left.
online.wsj.com/article...

Expect Oil Prices to Rise: Three Major Oil Exporters Warn About Production

(Bloomberg) -- BP Plc, Europe’s second-largest oil company, reported a “giant” discovery at the Tiber Prospect in the U.S. Gulf of Mexico that may contain more than 3 billion barrels, sending its shares higher.

Expect Oil Prices to Rise: Three Major Oil Exporters Warn About Production

Any out there ever heard of BP and the Lower tertiary??

BJ Services' Take-Under

The current glut in NG is because of all the shale wells that need fracing, which is what BJS does.

Baker Hughes (BHI) to acquire BJ Services (BJS) in a $5.5B cash/stock deal. BJS shareholders will receive 0.4 shares of BHI and $2.69, a 16.3% premium over Friday's close. BHI says it will see annual savings of $75M in 2010 and $150M in 2011, and that the deal "further enhances its position as a top-tier global oilfield services company." (PR)

This seems more of a take under to me. BJ Services shareholders should be outraged.

Google Finance Sparklines

ATT and Yahoo are related??? In what way?