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charliezap

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  • Despite Challenging Conditions, Investors Buying Anglo American's Self-Improvement Potential [View article]
    @TDW.

    1. How did the American system work for Enron shareholders? They were wiped out! Sue all you want, but common shareholders cannot recover anything if noting is left after debt and preferred are paid off.

    2. I'm sure bankruptcy and fraud happens in the UK too, but it is not worth my time to research the issue. My point was that Enron, Health South, Worldcom, and AIG involved fraud that was enabled by major accounting failures. I believe that with respect to investing, the first line of attack (or defense) is accounting, not the legal system.
    May 10 12:19 PM | Likes Like |Link to Comment
  • Despite Challenging Conditions, Investors Buying Anglo American's Self-Improvement Potential [View article]
    @TDW
    Once upon a time, the Anglo ADR's were listed on the NYSE. Then Anglo withdrew its listing, saving the expenses of listing, and the expenses of filing frequent reports with the SEC, including the 2O-F annual report.

    Now the ADR's (issued by Citi and other issuers) are traded on the pink sheets under the AAUKY symbol. You can still get the most recent 262-page annual report at:
    http://tinyurl.com/mx2...

    And here is a link to Anglo's explanation of the ADR's:
    http://bit.ly/RrI0OG

    Re: ""And my gut feeling is American financial laws are written better than British financial laws at protecting the average investor.""

    And what about American accounting? Remember Enron, Health South, Worldcom, AIG, etc. I think I would put more trust in the Brits.
    May 7 12:34 PM | 3 Likes Like |Link to Comment
  • Despite Challenging Conditions, Investors Buying Anglo American's Self-Improvement Potential [View article]
    A good article. The platinum miners strike is a big issue, and the latest offer from the companies, which was taken directly to the miners, was rejected. There are no current negotiations. While this does not make the outlook look good, it is probably true that the loner the strike lasts, the better will be the deal for the companies.

    In the US, Anglo now trades over-the-counter. While OTC is normally the domain of small, speculative companies, that obviously does not apply to Anglo.

    Disclosure: long AAUKY.
    May 7 01:11 AM | Likes Like |Link to Comment
  • Anglo American Is Cheap As Chips, But Will Get Cheaper [View article]
    AAUKY closed at $10.43 on the date of this article. It is up 22% since then.
    Feb 14 09:57 AM | Likes Like |Link to Comment
  • Anglo American Is Cheap As Chips, But Will Get Cheaper [View article]
    TITLE: """Anglo American Is Cheap As Chips, But Will Get Cheaper"""

    CONCLUSION: """The conservative long-term investor who can face an mtm loss in the first year of ownership should be richly rewarded. Take EPS of R27, add R4 for Minas Rio and you get EPS of R31; at a P/E of 10 this gets you to a share price of R310 . . [vs R190 now]"""

    So which is it?

    Not an especially convincing article, IMO.
    Jul 18 10:26 PM | Likes Like |Link to Comment
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