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Downside Protection Report: Complete Scorecard As of July 13, 2009
Downside Protection Report: Complete Scorecard As of July 13, 2009
EchoStar / SATS
$14.84 1/16/09 $15.64 +5.4% +5.9%
HOLD Tivo ruling increases downside risk, but company remains cheap.
Microsoft / MSFT
$19.71 1/16/09 $23.23 +17.9% +5.9%
BUY Trades at discount to sum-of-parts valuation of business units.
K-Swiss / KSWS
BUY Trades close to tangible book value, despite good normalized $7.80 3/20/09 $9.66 +23.8% +17.5%
economics and excellent management.
MI Developments / MIM
$8.64 5/21/09 $8.62 -0.2% +1.0%
BUY Shares trade at steep discount to fair value of real estate holdings.
DOWNSIDE PROTECTION REPORT — July 13, 2009 Edited by the Research Team of The Manual of Ideas www.manualofideas.com 8
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