Dear Diary,
I bought some Southeby's (BID) yesterday at $10.19 a share, based on projected earnings per share of $2.82 for 2009 and a widening Net Profit Margin. Because of Long term Debt, this is not a Holy Gail but is trading just above Working Capital of $9.88 a share, according to my most recent "Value Line" presentation.
I also picked up shares of Stryker (SYK), a pure Holy Grail, but it is trading at $33.22 at purchase, just above 10 times projected earning per share for 2009 of $3.15. The widening Net Profit Margin tells us that an upward pressure is on the stock price when the price is at 10 times earnings or below.
I sold the Decker's (DECK) at $56.89 yesterday, a 19% approximate gain over the 10 day holding period.
Gene
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2005, In Front of IRS Building, Washington, D.C.
Diary of a Business Investor
Gene Chapman
2005, In Front of IRS Building, Washington, D.C.
About Me
- Gene Chapman, Author
- P. O. Box 295545, Lewisville, Texas 75029
- MahatmaGandhiGlobalLibrary.blogspot.com or LibertarianGlobalLibrary.blogspot.com gkchapman2012@hotmail.com "Creating World Peace One Word at a Time" And for those who wish, you are invited to participate in funding all aspects of and in the building of a physical library building within walking distance of both the White House and the U. S. Capitol Building in Washington, D. C., as a voice of nonviolence and a safe harbor for Gandhian intellectuals in this epicenter of political violence on earth.
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