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Thursday, August 04, 2011

Interesting Day

My 2nd largest investment right now is cash.  And it's not far behind my largest investment, NICK.  Today was a bloodbath in the markets.  Good time to own cash.

Let's see the damage:

Berkshire Hathaway is getting close to my "good deal" threshold.  If it hits that point and I don't see anything else, I might start buying more.

ValueClick is $15.42.  Was $18.78 when I last looked at it.  Will it go to $13?

POSCO is still at $102.  Not interested.

Korea Fund is at $46.55.  Getting a bit interesting.  Will it go to $40?

Container leasing companies:
CAP is $15.61, this might be cheap now.
TGH is $22.79, will it go to $16?  Not a bad deal now.
BOX is $13.27, no opinion
TAL is $27.09, will it go to $25?

ACY is $13.90, this needs to get real cheap before I'm particularly interested.  Wake me when it hits $5.

AAON is $18.41, not a bad deal.  But will it fall below $15?

FLL is $2.81, but I just don't know about this one.

Forget CCLAY.  I'd rather own the real thing, KO, which is at $65.82.  $40 would be good.

It's always tough to know what's cheap enough.  I remember back in 2002, when I could pass over things that were cheap in favor of things insanely cheap.  I remember thinking that McDonald's at $15 is probably really, really cheap.  It was!  $84 today.

Chuck E Cheese reported results today.  The stock is $35.73.  Comps are up slightly.  Food costs are up somewhat.  Operating margin is down to 7.0% from 8.1% a year earlier.  Etc.  I'm not too concerned about their quarterly results.  In fact, I'd prefer to see a real downturn in their earnings to scare investors away.  Will it hit $23 a share?

Hot Topic is at... no one really knows where they're at. $7.20. I figured they might be worth $13 a share if they turn the business around.  I'd want a price like $4 before I'd think about it.

Buckeye Technologies BKI is at $24. Bzzzzt!

It's a start.

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