Albert Meyer

10 International Dividend Paying Growth Stocks

Yep... I'm on the same page with you on TLK, TKC, CHL and CPL. I"m not familiar with the others, but will do my due diligence on them. Thanks.

Enbridge, TransCanada: Pipeline Companies Offering Safety and Growth

Al in Oregon... I'm with you on TKC, TLK and SKM.. you can add CHL and TEF to the list.

TRP is a standout company with one of the best CEO's around. Utilities are always highly leveraged, because of the collateral value of their assets and predictable recurring cash flows. TRP manages its balance sheet very well.


On May 25 01:39 PM Al in Oregon wrote:
They are:
>
> TKC 6.7 P/E, 6% yield, .15 D/E
> TLK 12.9 P/E, 5.9% yield, .55 D/E
> TSP 9.4 P/E, 8.8% yield, .33 D/E
> SKM 9.1 P/E, 8.7% yield, .32 D/E

How to Think About China Stocks

PTR, CHL, YZC, ACH...

Oil Above $60/Barrel: Still Cheaper than a Cup of Coffee

...but you can drive further in 7 minutes than you can walk in 24 hours... :-)

Buffett on Banking: 'A Very Good Business'

OK don't bother, thanks, I found it.

The Real Options Monster: TARP and the U.S. Taxpayer

Spot on. Disolve the SEC. Substitute with billboards on our highways: "Investors beware! You are on your own!" It will save taxpayers a billion dollars per annum and force investors to rely on their own caution and due diligence, rather than being deceived in believing that the SEC is seriously protecting their interests - nothing of the sorts.

Buffett on Banking: 'A Very Good Business'

>>> A while back, I looked at the non-financial components of the Dow Industrials to ascertain whether or not basic business models were solid. <<<

Can you provide a direct link? Thanks.

China and Brazil to Ditch U.S. Dollar? Hardly

Today's Financial Times (News Briefings), on the front page, reports on China's $10 billion loan to Petrobas, in exchange for guaranteed oil supplies. The next items tells of the neocons in Washington dumping another $110 million into a black hole called the Swat Valley in Pakistan. While China uses its own capital to take care of its commercial interests and to strengthen its foreign trade relations, the US continues to pile up the national debt to prop up its foreign empire that isn't worth squat.

On another point, Marc Chandler's letters to the Financial Times are required reading for their insight. Keep them coming, Mr. Chandler.

Indonesia: A Must-Own Emerging Market

Doing due diligence on TLK should turn out to be rewarding exercise over the long-term. TLK needs to be more timely in publishing results.

Dow Chemical: Reduces Debt, Hushes Talk of Ag Sale

Thanks for the updates.

TurkCell: A Worthwhile Long Term Investment

I agree with you. One has to own the stock through the peaks and troughs of exchange fluctuations. For example, measured in lira Q4 2008 revenue growth was 25.7% (Y/Y), but measured in dollars, Y/Y growth was a negative 12.3%. The dollar/lira distortion in Q4 2008 was an anomaly that should correct itself over time. TKC has a rock solid balance sheet with more than a dollar per share in cash, net of debt. EBITDA and net margins of 37% and 26%, respectively, etc. One of the best (if not the best) companies in Turkey to work for, which means it draws the country's top graduates.

As an aside, the CEO has a Harvard MBA, an engineering degree from the University of Michigan and is a former Microsoft executive. His management team is also well educated, having been educated in Europe and US.

It's worth the effort doing some due diligence on TKC.

Oil ETFs: Texas Tea or Empty Well?

>>"On the front page of the Financial Times yesterday (sorry, I gave up reading the Wall Street Journal when it went mass market)...<<<

Absolutely... I concur...

Curious Accounting Tactics at Wells Fargo

"... would also note that although both amortization and/or impairment is a non-cash expense/charge"

Assumed you paid cash for an acquisition at above book value, the resultant goodwill is carried on the balance sheet. A year or two later you take a goodwill impairment charge. Is that really a non-cash charge? These days a lot of cash is falling through the cracks under the guise of a non-cash charge.

Consider the argument that stock option compensation is a non-cash charge. Yes, but only until the company takes real cash and repurchases the stock it issued to employees. FASB says, hide that in the Financing Section and don't let it influence your free cash flow calculations. CEOs say, ignore the FASB123R charge, it is just a non-cash irritant.

We'll invest ourselves into insolvency following FASB rules. According to FASB's rules, Countrywide was such a profitable concern that the CEO took home over $300 million in performance-based compensation (cash and stock) over a two-year period. We'd be better off without FASB and the SEC, don't yah think?.

Is China the Next Great Bubble?

Nobby 74: "It is very hard to know if the businesses are truly as profitable as they state. However , I think it's a lot healthier than some would like to think." Reconcile the cash flow numbers with earnings. If they match you can believe the numbers. (In the US, unrealisitc accruals, allowances, charges and every accounting trick in the book distort cash flow and earnings. If so, just walk away.) Look at China Mobile's cash flow and growth... and $25 billion in cash, roughly $6 per ARD share. If you can find a US company with similar fundamentals, buy it... and, by the way, let me know!

Cisco: Compelling at These Levels

"but buybacks have not even been sufficient to offset dilution from options granted to employees."

Thanks for the response, Asif. Do you agree that cash spent on buying back stock issued to emloyees is paying compensation through the back door, hence such expenditures should be deducted from free cash flow, after which there is not much left. The balance sheet reflects it correctly and sets it off repurchases against retained income, thus there is very little in accumulated or retained earnings after more than 15 years of being a "profitable comany."