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Value Investing Seminar [recording]

I recently participated in a Value Investing Seminar hosted by Marketfy.  It was an enjoyable experience for both me and listeners I've talked to.

In my presentation I covered my investment process, an oddball stock highlighted in the Oddball Stocks Newsletter, my rationale for investing in banks, and a bank also profiled in the newsletter.  If you didn't have a chance to watch the seminar live you haven't missed out.  You can now watch it anytime, I've linked to it below.  I presented and took questions for an hour, my presentation is the first in the video right after the introduction.


Many of the questions related to my presentation centered around investing in foreign stocks.  I wrote a post explaining how I think about foreign stock investment as well as my process for investing in foreign stocks.  There were unfortunately more questions than I had time to answer.  And most unfortunate is that I never received a list of the unasked questions.  If you watch the video and have a question could you please email me with the subject [seminar question] and ask your question?  I'll then do a post where I answer all of the questions I receive.

Presentation Outline and Newsletter Sample

I know when I watch a seminar I like to have a copy of the presentation slides to work through on my own.  I've posted the slides as a PDF linked below.

If you watch the video or look through my slides I think you'll notice two things.  The first is that I don't have any secrets besides turning over a lot of rocks.  The second is that this is labor intensive and can be frustrating if you don't know exactly where to look.  Fortunately the reward discovering  investment opportunities such as Pardee Resources and Citizens Bancshares.

If Pardee or Citizens seems attractive to you then the next step is to research the companies.  Citizens Bancshares is an SEC filing company, most readers won't have any trouble finding information on them.  Pardee Resources on the other hand is a dark company, they don't file any reports with the SEC.  Investors need to purchase a share and then contact the company with proof of ownership to obtain financial information.  I created my presentation from my writeup of Pardee for subscribers to the Oddball Stocks Newsletter.  I don't sell past issues, but thought that now that my thesis for Pardee was out in the open that maybe it was time to share my original thinking.  Linked below you'll find a sample of the newsletter featuring the Pardee writeup.  If you like companies such as Pardee and are looking for more then consider subscribing to the Oddball Stocks Newsletter.


Subscription information: http://www.oddballstocksnewsletter.com

Disclosure: Long Pardee, Citizens Bancshares

11 comments:

  1. asongOctober 21, 2014 at 1:32 PM

    What are the catalysts? Has this stock traditionally been trading at a discount?

    ReplyDelete
    Replies
    1. Nate TobikOctober 21, 2014 at 1:35 PM

      I think catalysts are BS, both searching for them and relying on them for an investment to turn. It's an artificial safety net.

      Value is it's own catalyst, and that's clearly the case for Pardee. The company has been growing and doing a great job at managing their resources. Management has also become more transparent about what they own and about their future plans giving shareholders visibility into the value of holdings.

      Delete
  2. AnonymousOctober 22, 2014 at 6:49 AM

    I think that that Pardee write up is probably best I have read from you and best fit to my personality as investment idea (I like that it's really good business and then sound valuation technique "proves" that it's probably worth lot more than the price.). Have to check if my broker let's me trade that...
    -Epa

    ReplyDelete
  3. AnonymousOctober 24, 2014 at 8:03 PM

    Where did you find the 2013 annual report for Pardee?

    ReplyDelete
    Replies
    1. Nate TobikOctober 24, 2014 at 11:43 PM

      You need to buy a share and then contact the company and provide proof that you're a shareholder. Then they'll send you the annual report. Once you're a shareholder you'll receive updates in the mail quarterly.

      Delete
    2. Tim EriksenNovember 6, 2014 at 12:31 AM

      or go here. Someone posted 10 years worth of reports I sent them:
      http://www.mediafire.com/folder/uwttn7v12vv4e

      Delete
  4. AnonymousOctober 26, 2014 at 5:56 AM

    What is the current price/book? Thanks.

    ReplyDelete
  5. SamsOctober 26, 2014 at 11:36 PM

    Nate,

    Listened to the recording and it was as insightful as your posts on this blog. Kudos!

    ReplyDelete
  6. AnonymousNovember 11, 2014 at 2:59 PM

    Nate-I hate to say this but it seems there is absolutely no value add from investing in unlisted securities such as the ones profiled in your blog, because (1) they are classic "cigar butts", typically with atrocious returns on equity; and/or (2) they do not trade at a significant discount to listed publicly traded securities. Pardee is trading right around book value and the P/E is >10. Not exactly a bargain.

    ReplyDelete
  7. AnonymousJanuary 15, 2015 at 12:17 PM

    Hi Nate,

    The PDF links do not seem to be working for me (the PDER one). Could you check them?

    Thanks!

    ReplyDelete
  8. AnonymousFebruary 8, 2015 at 10:13 AM

    I can't seem to see the PDF either. Nate, could you check this?

    ReplyDelete