Value Investors Unite

This might be the presentation: http://app.quotemedia.com/quotetools/showFiling.go?name=TM%20ENTERTAINMENT%20&%20MEDIA,%20INC.:%208-K,%20Sub-Doc%203&link=http%3A//quotemedia.10kwizard.com/filing.xml%3Frid%3D12%26ipage%3D6387347%26DSEQ%3D3%26SQDESC%3DSECTION_EXHIBIT%26doc%3D3&cp=on&type=HTML

What do you guys think of CapitalSource (CSE)? Pabrai and Klarman both hold it and the latter added more shares. Hard for me to analyze though because I don’t have the time nor resources to analyze their loan portfolio, however with those two heavy hitters in it maybe the work has already been done for us.

^Klarman is big in CSE, holding both equity and convertibles. Looks like holding convertible has more upside and less downside here than equity. Some of my trustworthy sources say equity is still attractive but same sources also said BSC was attractive when it dropped to $60s.

Add me in, value stuff always interests me. wanderingcfa at gmail dot com I suppose I’ll jump in with an idea as well (already had a good run since I picked it up in July 09, but still has some room to run, I think). I don’t have time for a full write-up, but a taste: CBEH Chinese energy company with 3 major business lines 1. Wholesale oil (distributed 279,000 tons in 09, 158,100 tons in 08) 2. Biodiesel (total production in china is estimated at 800k tons, and CBEH is 1 of 2 producers able to produce 100k+ tons in 2010). CBEH is increasing production from 100k to 150k in 2010. Profit margins in the 30% range. 3. Retail gas stations (currently operate 12) Sales history (millions): 09: 289,572 08: 216,507 07: 87,104 06: 54,428 EPS History 09: 1.05 08: 0.54 07: 0.21 06: 0.22 ROA: 29% ROE: 31% Profit Margin: 13% P/CF: 8x P/B: 2.5x P/Sales: 1.3x P/E (trailing): 11.03x P/E (forward): 9.69 Debt/Equity: 0.03x (no long term debt, and $62 million in cash) If you look at institutional & mutual fund ownership, many of them are reporting this stock as a new pick from December 09 reporting.