What are you buying today?

[LowIQinvestor]

Quick Question: If you are buying anything in size today what is it?

I am buying more BP...that's it.

[compoundinglife]

AAPL and NOV

[obtuse_investor]

In size? Absolutely nothing.

I may nibble on FFH if it drops enough.

[compoundinglife]

AAPL and NOV

WRT size I guess I am not loading up just increased both of these positions from 2% each to around %3.5.

[fareastwarriors]

I'm bought some AIG on Monday. I might buy some BAC if it drops more.
 

[WhoIsWarren]

AAPL and NOV

Compoundinglife -- can you elaborate a bit more on NOV?  I've taken a look at the company and it looks very interesting.  However, I struggle with trying to come up with a (rough estimate) of NOV's earnings power.  You know, just dealing with the meteoric rise in profits over say the last 10 years -- a more than 10-fold increase -- is a bit daunting.

Also, I notice that while gross and operating margins are very high, the company's RoE is less impressive (10-12% 10-year average).  Presumably the reason is the goodwill created by their acquisitions, which would seem to have enormously helped in creating their pre-eminent position in the industry.  However it begs the question whether they've overpaid for deals and whether they feel a need to continue the acquisition strategy for years into the future.  What are your thoughts on that?

Finally, everything you read about NOV mentions their high market shares (NOV = No Other Vendor).  Have you been able to do any channel checks or to speak to any industry guys?  I'd be really interested to know whether this is just company spin, or whether there truly are high barriers for competitors?

[Sorry, not trying to hijack this "What are you buying today?" thread.  Anyone want to volunteer starting a NOV investment idea thread?  I'm sure there would be lots of interest in it.]

Thanks

[Icarus]

I might nibble a bit on Total today.

[CorpRaider]

OXY.  Looking for a copper play but FCX is persona non grata for me because I think the acquisition to bail out the energy plays was an abuse of the corporate funds borderline breach fiduciary duty.

[ubuy2wron]

ABX looks like I will be going down with the ship on this one.

[compoundinglife]

AAPL and NOV

Compoundinglife -- can you elaborate a bit more on NOV?  I've taken a look at the company and it looks very interesting.  However, I struggle with trying to come up with a (rough estimate) of NOV's earnings power.  You know, just dealing with the meteoric rise in profits over say the last 10 years -- a more than 10-fold increase -- is a bit daunting.

Also, I notice that while gross and operating margins are very high, the company's RoE is less impressive (10-12% 10-year average).  Presumably the reason is the goodwill created by their acquisitions, which would seem to have enormously helped in creating their pre-eminent position in the industry.  However it begs the question whether they've overpaid for deals and whether they feel a need to continue the acquisition strategy for years into the future.  What are your thoughts on that?

Finally, everything you read about NOV mentions their high market shares (NOV = No Other Vendor).  Have you been able to do any channel checks or to speak to any industry guys?  I'd be really interested to know whether this is just company spin, or whether there truly are high barriers for competitors?

[Sorry, not trying to hijack this "What are you buying today?" thread.  Anyone want to volunteer starting a NOV investment idea thread?  I'm sure there would be lots of interest in it.]

Thanks

There is a thread in the general discussion area. I can respond there:

http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/national-oilwell-varco/