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Wednesday, December 07, 2005

Stop and Think

Ok, so YaSheng didn't work out. I still made a profit: a low purchase price can turn a loss into a gain. YaSheng is looking more and more suspicious to me with every press release. It's either incompetance or fraud, and either way, I want nothing to do with it. I'll still follow them just to see what happens, but I'm out until it's clear that they've cleaned up their act. There's no way they could pass an audit.

I'd like to go back and take a better look at CXTI and see if I can get a better resolution on what they're worth. When it seemed like cheap stocks were growing on trees, it was easy to throw that one away. I own the stock again as I mentioned here, but I also bought more later on.

The continuing climb in uranium spot prices is good for Strathmore, but probably not as good as having the price staying lower for longer while they continue their work. But no matter, the long term demand is way above the mining supply, reserves are running low, and demand is going to continue increasing. The Pilgrim nuclear power plant is petitioning for a 20 year extension (they'll probably get it, from what I've read). China hit a snag with disagreements on who will build 4 nuclear reactors which will add delay. India is adding 2000 mega Watts, the US is cooperating.

I need to look at Level 3 again. The Great Pumpkin. Eventually that whole supply/demand imbalance will have to reach an equalibrium and I need to see if there are any signs of it being near. If not, perhaps the market will become depressed about it again and drive the price back to $1.50. Either way works for me: preferably both.

I haven't seen much going on with LiveWorld. They managed to get this business. And Tulane.

Right now I have about one full investment sized block in cash. The mistake I'll probably make is not being patient enough. If I wait 6 months and get something for half the price of what I'd get otherwise, it's so definitely worth it. As Buffett said, so much of it is temperment.

And I have a ton of companies to sift through.

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