25.06.10 at Focus on the titles followed
Titles analyzed correspond to a strong belief (when they are buying) your author. Now it appears that some of these titles have been sold and no longer reflect the actual portfolio of writing Value and Profit.
the sake of transparency and clarity, it will now broadcast weekly portfolio composition of your real author ... to distinguish by: only the actions for which the analysis was broadcast will be "visible". These actions appear So gradually over time.
This will allow a greater frequency of publication because the interests of the blog and investor-editor of Value and Profit will be the same!
First, let's securities that are recommended to purchase and which are no longer included in the portfolio of your servant
OFI Private Equity Capital:
securities sold after the capital increase. Indeed, the haircut was very important before the capital increase. This increase will provide cash securities that do not guarantee a better evaluation of the title. Moreover, nothing guarantees that future investments will be the same quality as those today. Also note that the capital increase is highly dilutive to shareholders who do not wish to participate.
Thus, the securities were sold at a price of 8.62 euros and rights to subscribe for 0.16 euros. He remains in the portfolio of shares warrants OPBS1 we advise you to keep warm. We return to these hybrid securities once the negotiations are as relevant today.
Moury Construct:
The title was adjudicated in favor of
Vianini Lavori holds for us not only a greater potential for valuation because of its shareholdings and significant discount from its own funds, but the company also has a higher profile with a large backlog of 4 years of activity.
Securities sold to 101.5 euros.
COFIGEO:
We grabbed a share value "interesting" to sell even at this level, the intrinsic value was COFIGEO not reached.
sale securities to 210 EUR.
Orsus:
Due to personal obligations, the title was sold in November 2009. It is rather "an opportunity" because the ads are "getting worse": the abandonment of trade receivables (as we feared) and the declining profitability have sent the stock into abyssal depths.
What we learned from this investment - because you always learn something from these mistakes - it is better not to invest in Chinese companies who come to be listed in the United States.
