CUBA

[boatguy]

U.S. investors watching Cuba closely
Hopes rise for end to trade embargo, economic growth, after Castro

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BCB941233%2DB8C8%2D4E54%2D8DB6%2DDC463DD5A84F%7D&source=blq%2Fyhoo&dist=yhoo&siteid=yhoo

Any others?  

[boatguy]

Increasing volume 

Talk of the embargo ending sooner than expected. Oil find off Cubas coast has more to do with it than Castros health.

[boatguy]

Mentioned tonight on NPR

[David Randolph]

Great theme pick boatguy, you nailed it much before the crowd

It's a pity the very low average volume ... I wonder what's the market cap, well, it's $23.32 M.

Revenue trend, let me check ... no fundamental data?

Ah, ok, this is a portfolio company:
«The fund seeks long-term capital appreciation through investment in issuers that are likely, in the Adviser's view, to benefit from economic, political, structural and technological developments in the countries in the Caribbean Basin.»

These things are valued at Net Asset Value. They have 99.65% of net assets in common stocks. They hold many shares, let me see how many different holdings ... ninety.

One would need to make a calculus of the value of each holding to know the Net Asset Value, but on the company's last 10-Q, in September 30, 2006, it was $13,659,033, so probably the stock is a bit out of hand here, trading at $23.32 M.

Good luck

[boatguy]

Great theme pick boatguy, you nailed it much before the crowd


One would need to make a calculus of the value of each holding to know the Net Asset Value, but on the company's last 10-Q, in September 30, 2006, it was $13,659,033, so probably the stock is a bit out of hand here, trading at $23.32 M.

Thanks Dave,

You are right about the stock being out of hand

I think when Castro passes it will even be higher!!

[David Randolph]

I urge you to make some DD on CUBA boatguy. CUBA is a closed end fund with a current asset value of $8.97. That's exactly what the stock is worth.

It is only rising because of people that don't know what they're doing and due to the fund distributing a $1 per share dividend to shareholders of record at December 15th.

[boatguy]

Interesting article:

Castro Victims Awarded $91M

http://www.hispanicbusiness.com/news/newsbyid.asp?id=50178&cat=Headlines&more=/news/more-news.asp

"Castro's government did not fight either family at trial, but the families' ability to collect the money remained in doubt. The reason: A dispute between the families and Office Max over access to Cuba's assets, which were frozen under the long-standing U.S. embargo.

In this case, Office Max, through a merger with another U.S. company, asserted that it inherited property claims for the Cuban Electric Company, which was confiscated by Cuba in the 1960s. The retailer questioned the validity of the families' judgments and argued that the Cuban funds should cover its claims first.

I wonder if the attraction to this stock has something to do with some of the companies being held by the fund having certified claims against the Cuban Govt.

Looking more into some of the "non performing assets" of the fund.

[boatguy]

Report: Castro in serious condition - CNN.com

http://www.cnn.com/2007/WORLD/americas/01/15/castro.condition/

[boatguy]

Castro may have died.

[boatguy]

CUBA in play again

Listening to radio Havana as I write this, nothing yet.

Rumors Circulating Over Castro's Death

http://www.local10.com/news/13969598/detail.html

Stuck On The Palmetto: Vamos A Cuba

http://stuckonthepalmetto.blogspot.com/2007/08/vamos-cuba_21.html

[setravis]

Link to original thread, don't know how it got where it is, maybe setravis can move it to the stock picking board.

boatguy,
Got you thread merged and moved.......
Good luck my fellow trader ! 

[boatguy]

Castro Resigns 

Pre market should be interesting. 

http://www.bloomberg.com/apps/news?pid=20601087&sid=awCuK43yX.EA&refer=home

Fidel Castro resigned as president and commander-in-chief of Cuba, after almost 50 years as the country's leader, the official daily Granma said.

``I neither will aspire to nor will I accept, the position of president of the council of state and commander-in-chief,'' Castro wrote, according to Granma in its online edition. ``My only desire is to fight as a soldier for my ideas.''

Castro, 81, seized power in Cuba almost a half-century ago promising liberty and economic justice only to turn the Caribbean island into a communist bastion and a flashpoint of the Cold War.

[pinoleropuro]

if it brakes resistence at 7.63 than it might make a nice steady ride up. the trend has been negative for a couple of months now so it could make a turn but the trend is your friend unless you want to take a contrarian spin which sometimes can be rewarding.
jmho

[boatguy]

CUBA is up 20%+ pre market, traded up to $9.20 on low volume. It may even fill the gap today at some point if decent volume comes in.

Castro's announcement doesn't really change  the current power structure.

It will be interesting to see what the local reaction is as they wake up to find Castro has resigned the presidency.

There is still the possibility of talks with Castro's brother and the US government. If nothing else it will bring attention to the Cuba "issue" once again.