Thursday, August 15, 2013

Conrad Discussion Over at Corner of Berkshire & Fairfax

CB&F is a good forum and there's a little Conrad Industries thread going now.

"I would agree with those who say it is highly unlikely that the Jones Act is eliminated in the next 10-20 years. There is a national security element involved if all private work for US shipyards becomes uneconomical. Anyways, at $30 per share with no debt and $10 per share in cash and current EPS of $4+ annually you are not paying for what happens 20+ years away. It is entirely possible that in two years they have $20 in net cash ($10 existing plus $4 in EPS each year and proceeds from BP claim)."
I'll write up the 2nd quarter results later.

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