By Harvey I. Houtkin
Praise for Wall Street's Buried Treasure
"Mr. Houtkin has supplied the reader with an excellent schooling on a superb method that has the capability to show a truly restricted hazard funding into an awfully excessive go back. He makes the serious contrast among penny shares and severe possibilities on hand to the most economical price investor utilizing vital examples of his personal method. alongside the best way, Houtkin presents important perception into many of the internal workings of Wall Street."
—BILL KRAFT, dealer, speaker, buying and selling trainer, and writer of Trade Your solution to Wealth
"Investing with no Wall Street's Buried Treasure is like attempting to stay with no foodstuff. Mr. Houtkin offers the proof of survival one must become profitable in any industry. He reviews the fact that nobody else desires to nation. it is a playbook for achievement; a forty-year apprenticeship is defined correct among those covers! reap the benefits of it."
—JAMES DEPELISI, president of the inventory and Bond membership of South Florida; founding father of LDV Capital administration; finance professor at Broward neighborhood university; and host of traders company Hour radio program
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Extra info for Wall Street's Buried Treasure: The Low-Priced Value Investing Approach to Finding Great Stocks
YAHOO! and the YAHOO! logo are trademarks of Yahoo! Inc. relevant, it is interesting to see if the stock was significantly higher or lower in the past few weeks, months, or years. It will also demonstrate whether these shares really qualify as a forgotten and/or ignored situation. Years ago, a price search like this could have taken many hours of tedious labor. A major determining factor in whether an interesting potential LPVS candidate should ultimately be accumulated is very often whether “smart money” (informed investors) is or has been accumulating the shares of your LPVS target.
If one bought into WMT at the midrange price of $52, the stock fluctuated a mere 10 percent maximum over the five-year period, and not necessarily in the direction an investor would want. Even if you add back the tiny, less than 1 percent annual dividend, the potential profit from this stock, even in a best-case scenario, was about 10 percent total over a five-year holding period. In my eyes, this kind of return is unacceptable. Despite the fact that WMT had double-digit growth in both earnings and sales, the price of the stock languished because the perceived multiple for the shares collapsed from 59 to 23.
Occasionally, this low price enables corporate management to issue sizable amounts of super-cheap options to themselves. Depending on the ethical makeup of management, this may or may not be a problem. There are several perfectly plausible reasons why a quality, lowpriced company’s stock is trading at its low level (in pennies): • The company’s original underwriter may have gone out of business or is no longer interested or capable of supporting the shares. • The death of a large insider is causing the estate to be forced into selling a large amount of its very thinly traded stock into an illiquid, nonreceptive marketplace.