This issue was similar to Issue 7, not too many companies/industries that captivated my interest. It is very difficult for me to find any interest in small drug companies that have been public for ten years and haven’t yet posted a profit. In the meantime, all their shareholders fit the bill through large issuances of common stock to fund operations. Why bother? It’s not worth it to me. There are a few businesses I found interesting in the drug industry that are more established, as well as a few diversified businesses. Great businesses in this issue:
- Raven Industries Inc
- Tyler Technologies
- USANA Health Sciences
No interesting situations, I ended up only finding a value for about 1/5 of these companies, so it shouldn’t surprise you, especially with the current level of the stock market.