4/25 Kelly Letter Topics
Weekly market review
Earnings season
SEC GS politics
Fin reform toothless
Money always talks
Greece still sinking
Japan's sliding credit
AAPL > MSFT
Falling bullishness
Grant on fin reform
Unwinding hedges
Who will buy JGBs?
Tempur-Pedic
Of snow and stocks
2010 EDITION
Much has changed; good investing has not
The Neatest Little Guide to Stock Market Investing, 2010 Edition
I ran a screen to find stocks rated five stars by Morningstar, that are also owned by funds rated either four or five stars by Morningstar. The list was short:
Buckeye GP Holdings (BGH)
Carnival PLC (CUK)
St. Joe Corporation (JOE)
White Mountain Insurance (WTM)
Of these, The Kelly Letter has been tracking only one, St. Joe, for a potential buy. It's a victim of the housing market's woes, but looks to have fantastic underlying asset value and has moved aggressively to limit its exposure to the risks that have hurt it so much in the downturn.
I'll let subscribers know if and when I buy it, along with another housing stock I like. It's still early for the sector, in my view, but the day will come.
The above four stocks closed last Friday at the following discounts:
BGH 21% below fair value
CUK 35% below fair value
JOE 66% below fair value
WTM 36% below fair value
From this quick comparison, it's easy to see why I'm stalking shares of St. Joe Corporation.
