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  • C.H. Robinson: Undervalued [View article]
    Agree. Long time fan of CHRW. Thanks for the article.
    Sep 13, 2014. 04:41 PM | 1 Like Like |Link to Comment
  • Gaming Partners International: A Company With A Strong Balance Sheet Putting Cash To Work In A Hot Sector [View article]
    I see Mill Road holding a little over 4% as of March 31st here ( and there was not enough volume traded in the intervening time to indicate that they have disposed of their stake - If I am wrong I will obviously re-evaluate my position. Thanks for the comment.
    Jun 28, 2014. 06:44 PM | Likes Like |Link to Comment
  • Dividend Contenders: 16 Increases Expected In The Next 11 Weeks [View article]
    Glad to see you got SPAN - I'm long the name and debating if I should add more. They are also very liberal with special dividends - it's a small gem of a company in my opinion. Great article!
    Jun 16, 2014. 08:43 PM | 1 Like Like |Link to Comment
  • Banco Popular: Trading Under Par, The Preferred Stock Of This Regional Bank Is Attractive [View article]

    I'm sorry I forgot to include that in my terms discussion, shareholders will have your principal refunded in 2033 per the prospectus. Dividends do not go up (unlike some common stocks) however.

    Apr 26, 2014. 03:39 PM | Likes Like |Link to Comment
  • Commerce Bancshares: Is The M&A Titan Awakening? [View article]
    Look at the 30 year chart for Commerce and look at the once for Wells Fargo.

    The growth profile is almost identical, except for the fact that Commerce has a market capitalization of around $4 Billion and Wells has around $250 Billion.

    I think that Commerce might be one of the best permanent holdings available to younger investors.
    Apr 23, 2014. 11:41 AM | Likes Like |Link to Comment
  • Corning: A Perfect Case Study On When To Sell [View article]
    I started buying shares of GLW at $11.50 in late 2012.

    While I agree that the company might face some short term headwinds, I believe that the company has the potential to continue to earn well over the next few years due to new products like Willow, fiber optics, Ultra High Def TV's (LCD/Lotus Glass), Labware and deploying Gorilla Glass in new areas like cars in addition to the growth of mobile devices.

    I also think that the Sapphire situation is overblown, particularly when you account for the materials higher cost and the fact that it is much heavier. Gorilla Glass itself is also not an unchanging product, the company is continuously improving the material.

    I also like the use of an ASR program and I think it is important to note that Samsung went with convertible preferred shares in GLW after they consolidated their Korean operations, similar to Buffett's style.

    In the near term from a strict Grahamian perspective (Graham Number somewhere around $21) I could see why many would want to sell this stock.
    I'll keep holding because I think that the company can continue to meaningfully increase it's dividend (and pushes my aggregate Yield at Cost closer to 4%). At 18~17 I would consider adding more.

    Always appreciate the read.
    Mar 14, 2014. 01:13 AM | 3 Likes Like |Link to Comment
  • Squeeze Out Over 70% Returns From Crown Media Holdings [View instapost]
    Indeed. Very interesting and unusual volume for the past two sessions. I agree that something is going on.
    Mar 10, 2014. 05:07 PM | Likes Like |Link to Comment
  • Koppers Holdings Is Trading At A Dirt-Cheap Valuation [View article]
    Agree, I wrote an article about this name a few months ago and was happy to see the valuation come down to more attractive levels.

    This is a remarkable little company. Can't go wrong with telephone poles and cross-ties (in addition to a longer term call option on the resurgence of the US Aluminium market.)
    Mar 4, 2014. 07:05 PM | 1 Like Like |Link to Comment
  • LICT Corp. Is Far Too Cheap [View article]
    A masterstroke, Mr. Karsan!
    Mar 3, 2014. 08:36 PM | Likes Like |Link to Comment
  • American Independence: Highly Profitable With A Significant Tax Asset [View article]
    Great article Mr. Owens,

    I had some shares that I sold in the aftermath of the tender offer for a pretty healthy annualized return. Glad to see you giving this company the attention it deserves.

    I'm waiting to see if they are going to try and take the company out via a short form or try and use something called "conversion" for their ownership portion of the NOL's that they have on the books (where they can get 90% of the NOL but not short form the company) - wish I was a securities lawyer!

    Very interesting name.

    Feb 12, 2014. 01:59 PM | Likes Like |Link to Comment
  • Occidental Petroleum: 11% Upside Plus Dividends [View article]
    What do you think about the potential of the company engaging in spin-off activity in a similar manner to Conaco Phillips? I always thought that could unlock some significant value.
    Jan 13, 2014. 12:31 AM | Likes Like |Link to Comment
  • Salisbury Bancorp: Trading Under Book, This Multi-State Regional With A Healthy Dividend Merits Attention [View article]
    Thanks for the comments.

    I was under the impression that the bank had repurchased higher interest Series A preferreds and replaced them with B preferreds tied to SBL performance.

    I think that as far as a catalyst goes the company could be acquired given the cheap valuation. I also think that it will be more of a slow march upward with a lower risk profile.
    Jan 10, 2014. 12:46 PM | 1 Like Like |Link to Comment
  • The Spread Of Glass [View article]
    I prefer the term "Buying Opportunity" =)
    Jan 3, 2014. 07:33 PM | 1 Like Like |Link to Comment
  • 2013 - My Toughest Year As A Money Manager [View article]
    I agree with you William, this has been a challenging year. Not for the lack of returns however, but the amount of effort that it takes to obtain these returns with a margin of safety.

    For value oriented investors, investing in this climate is extremely challenging. A large portion of my portfolio has been placed in cash, cheaply priced assets like regional banks and special situations like short term arbitrage commitments.

    A year ago when I would screen for cheaply priced companies I would find hundreds of results and many small gems - now I only find a few dozen. Interesting times indeed.
    Dec 31, 2013. 02:13 PM | Likes Like |Link to Comment
  • Great Southern Bancorp: Undervalued Regional With Hidden Loan Growth [View article]
    I agree with you, GSBC looks very attractive. I am interested to see what they are going to do as they are nearby a bank that I hold as well as another bank which I have covered.

    Great article.
    Dec 31, 2013. 12:44 AM | Likes Like |Link to Comment