Barrons 4/23/2007

From 4/23/2007 Issue of Barrons

1. Oil Drillers should pay dividends vs buying back stock - low P/E due to cylical nature of business

- Transocean (RIG)
- GlobalSantaFe (GSF)
- Diamond Offshore (DO) - paid $4 special dividend 1/2007. partially owned by Loews
- Noble (NE)
- Ensco (ESV)
- Seadrill (SDRLF.pk) - norway; high P/E looking to acquire (NE or GSF likely targets per Geoff Kieburtz)

2. Chomping its way to profit
- JOYG vs BUCY (Bucyrus Int'l)
- beaten up due to coal price drop
- 40% revenue comes from surface mining
- 60% revenue comes from subsurface mining (coal?)
- also, after market service contracts
- coal producers have rebounded this year

Forbest Best Managed Companies (2006)

Forbes 01/09/2006

Categories

1. telecom services
2. transportation
3. utilities
4. conglomerates
5. constructions
6. consumer durables
7. diversified financials
8. drugs
9. food, drink, tobacco
10. food markets
11. health care equipment/services
12. hotels
13. household and personal products
14. insurance
15. materials
16. media
17. oil and gas
18. retailing
19. semi
20. software
21. banking
22. business services

Squeezing out more Income

Kiplingers (10/2006)

Closed end income funds

1. BGT - blackrock bank-loan fund (senior secured bank loans)
2. LBF - DWS global high income (emerging mkt debt)
3. PPR - ING - bank-loan fund (i.e. borrow at 5.5%, invest at 8.5%)
4. NUV - nuveen muni
5. NPT - nuveen muni

Kiplinger's Recommended Financial Blogs

Kiplingers (10/2006)

- The Buffett Blog
- Consumerism Commentary
- Controlled Greed
- Cramerwatch
- Dear Economist
- Footnoted.org
- Freakonomics
- Fund Alarm
- Kirk Report
- Mad Money Machine
- PFblogs
- Random Roger's Big Picture
- Seeking Alpha
- Stockblogs
- 10q Detective
- Thoughts from the Frontline

Tankers

Kiplinger's March 2006

Oceans of Opportunity

Aries Maritime (RAMS, $13) - 7 gasoline and fuel oil, 5 general cargo
- risk is lower rates

Arlington Tankers (ATB, $22) - high quality, low risk (sunoco, xom), low dividend
- low risk

Genco Shipping (GSTL, $17) - coal, steel
- risk is global interest rates (financed w/ floating debt tied to LIBOR)
- symbol now GNK

Seaspan (SSW, $20) - long term fixed contracts to haul Chinese goods

Teekay LNG (TGP, $30) - LNG

Fungus biological clock

Economist 02/17/2007

Fungus chemistry for telling time

Love thine enemy - endogenous retroviruses

Economist (09/16/2006)
- retrovirus (viral gene) plays keep role in the development of sheep embryo (related to how embryo attaches to womb)
- retrovirus uses RNA to "reproduce". this RNA is copied onto a host's DNA. if DNA belongs to a sperm/egg, the RNA is passed down to next generation (endogenous retrovirus)

Misc Index to Short Articles)

Barrons (03/19/2007)
- short primer on sub prime ecosystem

Barrons (03/26/2007)
- world's most respected CEOs

Barrons (04/02/2007)
- Walter Industries (WLT)
- coal (esp met coal) and gas producer

Barrons (04/09/2007)
- www.gainskeeper.com (for keeping track of capital gains. also creates automatic schedule D for importing into tax programs)


WSJ (04/16/2007)
- titans of steel (importance of pipes/tubing for oil drilling. large Indian companies buying others)

WSJ (04/10/2007)
- Apache article (recycling old oil fields - similar to XTO)

3 Tests for Arterial Health

WSJ - (04/17/2007)

3 tests for artery health (i.e. strokes, aneurysm, etc)

- carotid ultrasound (fatty plaque in neck artery)
- ankle - brachial (fatty plaque in legs)
- abdominal ultrasound (aortic aneurysm - AAA)

New 7 Sisters

LA Times (03/19/2007)

New 7 Sisters

- Saudi Aramco (25% of world reserves)
- Gazprom
- CNPC/Petro China
- NIOC (Iran)
- PDVSA (Venezuela)
- Petrobras - Good deep water expertise
- Petronas (Malaysia)

Barrons Interview w/ Sy Jacobs

Barrons (03/26/2007)

Picks -
NLY
ANH - mortgage REIT w/ ARM exposure (book value should increase)
ORGN
OPX - aggresive mortgage REIT w/ alt-A exposure. stock price punished. P/B = 0.5

Lady Windermere Coughing

LA Times article 03/26/2007

Health Section

1. Elderly ladies w/ persistent cough
2. X-ray reveals old and new infection in the middle section of lungs
3. Old infections possibly from childhood (no antiobiotics)
4. mycobacterial infection (mycobacterium avium intracullulare)
5. took three (3) antiobiotics over a period of 1.5 years
6. not cured, but reduced

Interest Rate Sites

The following web sites have good info on interest rates:

1. www.bankrate.com

2. www.money-rates.com

3. www.managingmoney.com
- includes related items such as legal forms for leases, personal finance, tax prep, etc

Dying Giant - Cantarell Field Oil

From 5 April 2007 WSJ, front page

1. World daily output of oil - 85 M bbl

2. 25% (~20M bbl) is pumped from 20 largest fields (Wood Mackenzie - Scottish oil consulting firm)

3. "Big field" is 500k bbl/da

4. 2 decades ago, 12 fields produced > 1M bbl/day. Now, 4 fields.

European Private Equity Examples

From 2 April 2007 WSJ, C1

Check out the following European Private Equity firms

1. 3i Group (England)- up 67% in past 2 years

2. Onex (Canada) - up 18%/yr since 1984

3. Wendel and Eurazeo (France)
- Wendel - double in past 2 years
- Eurazeo - 80% in past 2 years

Restaurants to Try

HealthyCA Foods -
- 4724 Lankershim, NoHo
- M-F 10 - 5 pm
- 818.505.1035

Pizza -
- Mulberry St Pizza - NY style by the slice
- Vito's - 814 N Vermont; 323.667.2723

Hole-in-the-Wall (Valley)
- Pita Kitchen
- QT's Chicago Dogs - 4344 Woodman
- Tony's Mexican Grill
- Nat's Early Bite
- Sushi Don - 4816 Laurel

Index of Recipes I've cut out of the paper

1. Hummus

2. Tomato-Olive Salad

3. Ribs (from MKE Journal)

4. Home made hamburgers

5. Ethiopian - beef stew, lentils, bread

6. Grilled Cilantro Chicken

7. Grilled Eggplant, Tomatoes and Zucchini

8. 4 recipes for Grilled Chicken -
- spice rubbed
- marinated
- buttered
- herbed

9. Fennel-spiced wild salmon

10. Guacamole

11. Middle Eastern Flat Breads (also baba ghanouj and hummus)

12. Union Hotel Fried Chicken

13. Zuni Cafe Roast Chicken

14. Roasted or Grilled Fillet of Beef w/ Black Pepper

15. Smoked BBQ (baby back ribs)

16. Manhattan Clam Chowder

17. Coq Au Vin

18. Roast Chicken Provencal

19. Various Black Bean Soups

20. List of Spices

21. List of Herbs

22. Veggie Indian Cuisine

23. Rice Delcio-so (Jasper's mom)

24. Super Bowl - buffalo wings, beer battered shrimp and ribs

25. Super Bowl - fried eggs, chicken wings, shrimp

26. Roasted tomatoes persillade

27. Thanksgiving - how to carve, stuffing

28. Brussel sprouts

29. Eggplant and Tomato Salade

30. Pie Crust

31. Bayou Cooking - red beans and rice, shrimp creole

32. Perfectly cooked steak

33. Best of Beef -
- burger
- grilled strip steak w/ hash browns
- bone-in rib eye
- braised short ribs
- adobo-rubbed beef tenderloin

34. Basque chicken w/ sweet peppers and tomatoes

35. Braised chicken legs w/ green olives

36. Home-made vinegar

37. Indian Grilled short ribs w/ celery root and apple slaw

38. Olive oil poached salmon with fresh horseradish

39. Hickory smoked and grilled hanger steak

40. Roasted Fall-Veggie Hash

41. Soups
- Butternut Squash Soup
- Cauliflower Soup
- Spicy Grain Soup

42. Super Crispy Chicken

43. Roasted Grape Tomatoes and Garlic in Olive Oil

44. Chicken Curry w/ Potatoes and Squash

45. Indian spiced String Beans

46. Red Wine Braised Lamb Shanks

47. Maple Glazed Root Veggies

48. Comfort food from a Rebel Chef
- Beef Chile w/ Beans
- Roasted Chicken w/ Garlic-Thyme Butter
- Smoky Meatloaf

49. Slow roasted balsamic turnips

50. Short Ribs the Long Way (WSJ)
- greenbeans
- cauliflower puree

51. LA Times Food (3/21/2007)
- One Fish, 5 Dishes
- Pan roasted
- Steamed
- Roasted stuffed w/ lemon/rosemary
- Braised
- Grilled w/ basil oil
- Gadgets for sharpening knves
- Stock
- Veal
- Chicken

52. Slow cooking (LA Times 04/18/2007)
- slow-poached shrimp
- slow-cooked salmon
- chipotle ribs

53. Honey-Fried chicken (WSJ 04/14/2007)