Author Topic: SSNLF - Samsung Electronics  (Read 19793 times)

thelads

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Re: SSNLF - Samsung Electronics
« Reply #20 on: January 24, 2014, 01:56:05 PM »
Hi,

For anyone interested - you may want to look @ the pref shares for Samsung. They trade at a 25% discount to the common. with the amount of cash on the balance sheet and relatively little debt (I think net cash is now north of 40BN WON) it has a big impact on the EV. If you buy via the pref share (which is the same position as the common but with a) no voting right and b) a higher dividend - though non cumulative) you are buying @ less than 2x EBITDA/EV and under 3x FCF to EV. Kind of amazing no?


valueInv

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Re: SSNLF - Samsung Electronics
« Reply #21 on: January 24, 2014, 03:46:16 PM »
Hi,

For anyone interested - you may want to look @ the pref shares for Samsung. They trade at a 25% discount to the common. with the amount of cash on the balance sheet and relatively little debt (I think net cash is now north of 40BN WON) it has a big impact on the EV. If you buy via the pref share (which is the same position as the common but with a) no voting right and b) a higher dividend - though non cumulative) you are buying @ less than 2x EBITDA/EV and under 3x FCF to EV. Kind of amazing no?

Lets say that Samsung's earnings drop 10% for each of the next 3 years. How would the preferreds behave?

fareastwarriors

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Re: SSNLF - Samsung Electronics
« Reply #22 on: February 15, 2014, 10:16:21 PM »
Samsung's World of Possibilities



Phone Giant Stands to Benefit From Industry Shake-out

http://online.wsj.com/news/articles/SB10001424052702304434104579379460104418356?mod=WSJ_hps_MIDDLE_Video_Top

gokou3

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Re: SSNLF - Samsung Electronics
« Reply #23 on: February 16, 2014, 09:55:44 AM »
IB can accept korean stock orders. 5930 for common and 5935 for preferred.

Whats the yield on the preferred and does the security behave like typical preferred in the US?

muscleman

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Re: SSNLF - Samsung Electronics
« Reply #24 on: February 16, 2014, 10:27:34 AM »
IB can accept korean stock orders. 5930 for common and 5935 for preferred.

Whats the yield on the preferred and does the security behave like typical preferred in the US?

I use IB, and I know they cannot trade korean stocks. Are you talking about single stock futures? IB can do that.

constructive

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Re: SSNLF - Samsung Electronics
« Reply #25 on: February 16, 2014, 12:16:41 PM »
US retail investors aren't legally allowed to trade foreign single stock futures. You have to be a qualified institutional buyer.

But Canadians and others can trade Korean SSFs on IB (005930 and 005935).

fareastwarriors

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Re: SSNLF - Samsung Electronics
« Reply #26 on: February 18, 2014, 12:46:44 AM »
Samsung Builds Retail Clout in Europe, North America



South Korean technology giant tries to expand presence in two of its largest markets.



http://online.wsj.com/news/articles/SB10001424052702304899704579389843179905288?mod=WSJ_business_whatsNews

Liberty

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Re: SSNLF - Samsung Electronics
« Reply #27 on: February 26, 2014, 08:21:46 PM »
Samsung taking steps to be less dependent on Google with their Tizen fork:

http://arstechnica.com/gadgets/2014/02/hands-on-with-samsungs-tizen-os-a-impressively-capable-android-clone/

Smart of them to build this, even if just as an insurance policy or way to pressure google in giving them better terms and more control.
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phil_Buffett

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Re: SSNLF - Samsung Electronics
« Reply #28 on: July 19, 2014, 05:01:47 AM »

Packer16

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Re: SSNLF - Samsung Electronics
« Reply #29 on: July 19, 2014, 05:28:24 AM »
Samsung is cheap but I put in the league with Apple in that is it is huge (over $200bn market cap).  For this to be a double it has to generate valuation gains of nearly $200bn which I think is very hard unless you are in a bubble.  I guess it can "unlock"  this value via spin-offs but given the nature of the situation of wanting to retain family control this is unlikely.  I do agree that the preferred is the way to go if you want to invest in this company. 

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« Last Edit: July 19, 2014, 05:38:09 AM by Packer16 »