Ben Graham focused on buying as many statistically cheap stocks he could find. Buffett after many years of less than perfect results from investing in cheap ideas/cigar butts with textile mills, department stores and windmill companies his approached was modified. His modified approach was to focus on good companies at cheap prices such as Coca-Cola. The approach of buying good companies for cheap prices is exactly the focus of Joel Greenblatt. He took the best from both investors and with his ability to forecast normalized earnings several years out this approach has been unmatched for many years running the hedge fund Gotham Capital.
For this week’s direct positive insider activity I selected only stocks that would be potentially acceptable for further research to Ben Graham, Buffett and Joel Greenblatt.
ImmuCell Corp (ICCC)
Hurco Companies Inc (HURC)
Advocat Inc (ACVA)
Ramtron International (RMTR)
Nutraceutical International (NUTR)
Additional data on the above:
Link
All ideas last week with positive insider activity (not necessarily acceptable to Graham, Buffett or Greenblatt)
Sorted by amount of last week’s insider purchases/EV
Link
6/14/2009
MVC Capital - MVC-NYSE
Taken from Saturday’s (06/13/09) Barrons
MVC Capital - MVC-NYSE
Buy - Price 8.56 on June 9
by Morgan Joseph
“MVC reported slightly lower-than-expected [net asset value] per share of $16.84 in F2Q09. This compares to our $17.24 ... In Securities and Exchange Commission filings, MVC reported F2Q09 income from interest, dividends, and fees of $5.8 million, operating income of $2.1 million, net income of $1.7 million, a net realized and unrealized loss on investments of $9.5 million, and a net decrease in assets of $7.8 million. The company also reported realized and unrealized losses of 32 cents per diluted share versus our estimate of a 10-cent gain. We think multiples have bottomed out among portfolio companies, while revenue and Ebidta appear to be stabilizing...We are maintaining our Buy rating and target of 17. We believe MVC's portfolio remains relatively strong and that write-downs to portfolio companies should slow in coming quarters. Our price target is based on our estimated NAV per share of $16.88 at the end of FY2Q [the fiscal second quarter of] 2010. Market cap: $208 million.”
Link
http://online.barrons.com/article/SB124484648775411207.html?ru=yahoo
I have a position in MVC
Significant positive insider activity
Link
Additional Fundamental Data
MVC Capital - MVC-NYSE
Buy - Price 8.56 on June 9
by Morgan Joseph
“MVC reported slightly lower-than-expected [net asset value] per share of $16.84 in F2Q09. This compares to our $17.24 ... In Securities and Exchange Commission filings, MVC reported F2Q09 income from interest, dividends, and fees of $5.8 million, operating income of $2.1 million, net income of $1.7 million, a net realized and unrealized loss on investments of $9.5 million, and a net decrease in assets of $7.8 million. The company also reported realized and unrealized losses of 32 cents per diluted share versus our estimate of a 10-cent gain. We think multiples have bottomed out among portfolio companies, while revenue and Ebidta appear to be stabilizing...We are maintaining our Buy rating and target of 17. We believe MVC's portfolio remains relatively strong and that write-downs to portfolio companies should slow in coming quarters. Our price target is based on our estimated NAV per share of $16.88 at the end of FY2Q [the fiscal second quarter of] 2010. Market cap: $208 million.”
Link
http://online.barrons.com/article/SB124484648775411207.html?ru=yahoo
I have a position in MVC
Significant positive insider activity
Link
Additional Fundamental Data
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