Jack Adamo's Insiders Plus




Here's a typical Insiders Plus recommendation.

In the spring of 2006, we noticed a Peruvian gold mining company called Compania de Minas Buenaventura that was selling at a P/E of 11, while most gold miners were selling at P/Es of 30 or more. So, right from the outset, we had a stock selling at about one-third its industry's valuation, and about 40% less than the market multiple. Moreover, the stock had fallen 25% in recent months. Our curiosity aroused, we dug in to uncover why the stock was so cheap and so unloved.

We found that the market was frightened silly that a radical leftist presidential candidate, Ollanta Humala, would be elected, and that, like his hero, Hugo Chavez, hed nationalize resource industries, like mining. The fear was over a legitimate issue. But the important question was: How likely was Humala to be elected?

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Over a period of a few weeks we dug up all the news on Peruvian politics that we could. It became obvious that Humala had no chance. The left was fractionated among many candidates, each one a favorite in his own region. Meanwhile, the moderates where solidly behind a single front-runner. The closer the election got, the more obvious the outcome was. We initiated our first buy in April of 2006, and doubled up on our position three months later. Within a year, the election was a thing of the past and the stock was up 60%.

Between the 25% drop and the 60% rise in the stock, the volatility was tremendous. But where was the risk? Was it in the 25% drop that allowed us to buy the stock dirt cheap? Or was the real risk in the ignorance or laziness that kept analysts and investors from finding the truth.

The story of Buenaventura is essentially the story of our success. It is very typical of what we do at Insiders Plus

Incidentally, as of this writing, we still have two positions in Buenaventura. One is up 276% and the other is up 227%.

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A subscription to Insiders Plus is $300 for one year or $500 for two years. All subscriptions are guaranteed. If you are not satisfied with your membership for any reason within the first 30 days, well refund your full subscription price. A pro-rated refund is available any time after that.

If you have further questions about Insiders Plus, please write to us using the "Contact Jack" link on the left sidebar. 

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Copyright 2008 by Jack Adamo. All rights reserved.