July 21, 2009
Natural Gas – Part I
Getting Close! Cheap, but could get cheaper as storage levels build up in
the next few months… Spike coming in winter?

 

March 3, 2010
Tower Insurance (TWGP) -A premium insurer with  $1B in written premiums, limited CAT risk and consistent 88-90 combined ratios; with $2B in investment assets and 15%-20% ROEs, in a sector that is barely making any underwriting or investment income right now, should trade at least 1.5x book or at least at $35 per share.

 

June 16, 2010
Baltic Trading (BALT) - BALT is a pure-play on global dry-bulk shipping rates rising from here.

 

July 2, 2010
Qualcomm (QCOM) - Trading at 10x next year's number is very cheap given the lock they have on 3G (with strong on 4G) and given that CDMA is being adopted more around the world.

 

July 30, 2010
Neutral Tandem (TNDM) - This could be more than a double in a couple of years - compelling value!

 

September 28, 2010
Furiex Pharma (FURX) - At $10 a share, we have downside to $7 and upside to more than $30 - a risk worth taking on this management and drug portfolio.