Wow held up pretty good at the open. I think the people who bothered to hold through earnings knew not to panic.

I think the dogma on using analyst research out there is "look at the PT's for Apple. $200/share and the stocks sinking=Analyst research is worthless."
I think this blanket thinking is very wrong.

after understanding very little on how to research resource stock, I've put the last few months of my life into undestanding as much as I can in the sector sensing the bottom is in (probably one of the most difficult to understand because of the esoteric nature of valuing a companies reserves.)
the kind of research i find most helpful, is where they list 20 different companies in the sector, and then have every relevant value metric. this shows you wear most of the value is instantly (besides quality of management and the like which is more time consuming and can be done on your own.) this type of research saves me hours and hours. instead of looking at 10 different companies annual informations forms, compiling all the data in a spreadsheet and then ranking, its all there for me. i do enjoy that kind of work but I also want to have a life.
I've checked out my TD water house brokerage free research over the last few days and its really good stuff.

I feel like RR's add a lot of value especially for getting an overview of a company in a time efficient manner. looking at a price target and buying off of that is obviously bad investing. the worst part of RR's is the massive conflicts of interest out there so you need to be aware of that but there is definitely valued added anyway to investors.

really enjoying this podcast and finding it helpful. so many finance podcasts are a waste of time but this one is a value add. especially like eps#52 where they go into footnotes and company filings. found out some new stuff to look for.

http://www.beyondproxy.com/tag/value...odcast/page/3/

Then please stop ****ting up this thread with your short-term speculation.

In this specific instance with how the stock has been really attacked by shorts (specially on message boards), it was more a warning to anyone starting a position. And today it sold off hard again (got to 6.80s). So I was just warning of that very occurrence (which did happen).

FSLR really is starting to look absurdly cheap. I was expecting to see some monster short float behind this drop, and the float isn't even big. Might just have to buy some here shortly.

check out the chart on the ETF LIT (lithium) check out the charts of ALB FMC SQM.
do you guys think this recent big move in those stocks is mostly hype based on the big Tesla pre-orders and will likely fade, or is this a firm bottom? i checked out the fundamentals of ALB and SQM but both stories felt way too messy to invest in. there is no pure play lithium major but they seem to be trying to focus on growing production there over all else. there are some pure play junior miners but they dont suit my risk levels for investing. ALB just beat earnings and is responding to that.

with the couple days of DD I did on the sector it seems like lithium has one of the brightest futures in the commodities space.
what do you guys think?

FMC Corporation Common Stock FMC 19.68
Sociedad Quimica y Minera S.A. SQM 9.43
Orocobre Ltd OROCF.AX 5.96
Albemarle Corporation Common St ALB 5.36
SAMSUNG SDI CO.,LTD. 006400.KS 4.49
Tesla Motors, Inc. TSLA 4.49
Galaxy Resources Ltd GALXF.AX 4.38
LG Chem Ltd LGCLF.KS 4.31
GS YUASA CP KYOTO GYUAF 4.22
BYD CO LTD H SHS BYDDF 4.04

According to yahoo finance, the FMC takes up 19.68% of the ETF. I did not realize there is a lithium boom, $21000 a ton. Quite surprised FMC looks like a conservative stock, for mining companies that is kind of rare.

I posted some question on Equity and Reserves in the Trading thread, probably should have posted it here instead. Maybe some of you guys can have a look at it. tnx

Case study of the day: KRSL

When a company changes its bylaws or articles of incorporation, always look at what is changing!

In December 2014-January 2015 an activist hedge fund ran a proxy contest against KRSL, it was a close vote but the company ultimately prevailed. The hedge fund had been seeking to have KRSL sell the company. After the proxy contest the hedge fund put out a press release saying that they had begun engaging in discussions with the company to prevent the need for further litigation in court blah blah blah.

On Aug 21, 2015 KRSL amended its bylaws and published them on their investor relations site. The only major change to the bylaws was the removal of the following paragraph:


No such committee of the board of directors shall have the power or authority to:

(i) amend the certificate of incorporation (except that a committee may, to the extent authorized in the resolution or resolution providing for the issuance of shares of stock adopted by the board of directors as provided in Section 151(a) of the General Corporation Law of Delaware, fix the designations and any of the preferences or rights of such shares relating to dividends, redemption, dissolution, any distribution of assets of the corporation or the conversion into, or the exchange of such shares for, shares of any
other class or classes or any other series of the same or any other class or classes of stock of the corporation or fix the number of shares of any series of stock or authorize the increase or decrease of the shares of any series),

(ii) Adopt an agreement of merger or consolidation under Sections 251 or 252 of the General Corporation Law of Delaware,

(iii) recommend to the stockholders the sale, lease or exchange of all or substantially all of the corporation's property and assets,

(iv) recommend to the stockholders a dissolution of the corporation or a
revocation of a dissolution, or

(v) amend the by-laws, of the corporation; and, unless the board resolution
establishing the committees, the by-laws or the certificate of incorporation expressly so provide, no such committee shall have the power or authority to declare a dividend, to authorize the issuance of stock or to adopt a certificate of ownership and merger pursuant to Section 253 of the General Corporation Law of Delaware. Such committee or committees shall have such name or names as may be determined from time to time by resolution adopted by the board of directors.



So by removing this paragraph the company is saying that a special committee of the board of directors CAN sell the company now. On Aug 21 2015 the stock was around $9/share trading around .5 EV/Rev and 4x Ev/EBITDA. KRSL is an aerospace parts supplier, which normally sell for 1x EV/Rev or 10x EV/EBITDA in comparable M&A transactions.

Fast forward 9 months later to todays announcement that KRSL is being sold for $18/share .8x EV/Rev, 8x EV/EBITDA. Companies don't update their bylaws for no reason. KRSL is an unlisted company who doesn't file with the SEC, few people were following this name but anyone that was paying attention was given a major hint that something was brewing.

Hindsight is obviously 20/20 but something to be on the lookout for in the future.

Mergers and acquisitions generally only help management. The owner of a stock loses on all future earning power. Does Warren Buffett buy See's Candy or acquire cash. Does Warren Buffett sell Precision Cast Parts to receive cash or buy it? The acquirer often loses too, Fiorina buying Compaq for example. But changing the bylaws so they can be sold probably lost stockholders a lot of value in the long run.

For all the stocks that have been sold to private equity in the long run investors probably get about 1 cent on the dollar. Look at the Dell deal for example. Those bylaws were also changed so Dell only needed 50% of the votes that were cast. ISS also approved that so they are a worthless organization.

Many of these takeovers the price is manipulated down prior to the takeover to get a good price for private equity.

I would like some of whatever you're smoking.

steelhouse title of forum clown has been at jeoprady the past couple weeks. He had to ensure he maintains the title obv.

Look at the MON Bayer deal, since 2000 MON has been a 10 bagger and Bayer a 3 bagger. Do you really want to sell out so you can pay 30% capital gains (more than your initial investment) so your shares can be passed to a substandard company.

long Mon since 2000.

TOWR's board authorized repurchasing up to $100m in stock today.

“In view of the Company’s previously disclosed strong earnings and cash-flow outlook, in combination with a decline in our stock price to a point significantly below our view of intrinsic value, we believe stock repurchase represents a prudent and appropriate way to opportunistically deploy capital in a highly accretive and low-risk manner,” said President and CEO Mark Malcolm.

“Using present projections, the Company expects to generate more than enough cash through 2017 from operational free cash flow and the planned sales in Brazil and China to fund the repurchase authorization. The open-ended timing provides prudent flexibility to respond to changing business conditions or outlook, and to consider potential profitable growth opportunities.”

Random question: Is it publicly available when boards meet? I've never looked into that too much.

anyone looking at British names the last couple of days. I think Brexit wont amount to much but a good buying opportunity.
added DEO and UL to my long term portfolio on recent weakness. currency tailwinds are a bonus here.

Anyone in here from Australia?

BFCF
RWWI
WWASA.NO

NZH, price still depressed but coming back and 5% tax free yield. Double banger!

I am.

Anyone believe this talk of Uralkali & Belaruskali potentially starting the restoration of the potash oligopoly? I haven't paid attention to this sector in a long time, certainly been doom and gloom. Anyone been following it more closely?

Stock is up over 50% today. Sold about 2/3rds of my position.

nicely done!

I havent seen anything but everything I've read out of the AG industry macro wise is bearish. definitely on my daily radar though.

anyone looking at shipping companies? doing some DD on STNG right now. not sure what to make of the macro picture for them but the sector has been decimated so probably time to buy the survivors for the long term.

thank you last poster.. i hadn't heard about possible re-establishment of potash monopoly.

how easy is it to bring it back? i would think it's much easier to maintain an existing cartel than re-start a dead one.