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Wednesday, December 21, 2005

uranium prices

Once again, uranium spot prices are up, hitting US$36.25. And Strathmore prices are up slightly, but not as much as Cameco. There's USEC which was the IPO of US national stockpiles of uranium, which I can't speak for, but they reported good results, of course. Denison Mines hasn't done too well.

hey bud,
i'm watching UEX.TO and Strathmore for uranium plays. I saw Strathmore has 3M acres in that coveted area in Canada. Sounds like a very nice long term play. I'd expect the oil/gas energy sector to start moving money into uranium for their next bull run.
How do you choose what companies to analyze, seems like you run through the alphabet of reporting pennies, and you pick/screen a few pennies out of that letter for the day and analyze them in spare time when get home?
I'm a computer science/web developer working for an accounting company in philly. I'm interested in learning a little more fundamental/technical analysis; might buy that 'lemonade stand' book you recommended :).
It's definitely a great book for learning accounting principles. I was thinking recently about what are the most common problems in companies I look at and, from what I recall, the most common ones are covered by the lemonade stand book.

For investing, I believe it's important to be able to be able to map between numbers and reality. As I read through the details of a 10-K, I try to picture what the business "looks like". If a company has $2,000 of property, plant, and equipment which is fully depreciated and the lease costs are very low, it reminds me of a particular one-room business I visited decades ago. When I looked at Hanover Foods, it reminded me of some old industrial plants I've seen in large ancient brick buildings with old guys who had worked there since the beginning of time (from experience, those places are good at being repeatable but not at being quickly adaptive).
...and if you want to see just how successful a lemonade stand can get, this is pretty close (turn down your speakers before going there): Del's Lemonade

Del's is a Rhode Island institution with an extremely strong brand loyalty. In my opinion, their management could have done a lot more to expand geographically, but they've done very well within their chosen market. What they need is a CEO who genuinely believes the rest of the world is being deprived of high quality frozen lemonade.
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