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WF00PP7777

It is time to buy gold!

WF00PP7777

Bought Dürr today after today's results. Strong order intake, high FCF and impressive bottom line. Share prive overaction (-6%) due to too conservative 2017 guidance. Dürr is always guiding super conservative at the beginning of the year. Additionally, they sold their Ecoclean business. It's only in Q1 part of the FY 2017. This is the reason why the guidance looks too conservative. Thus, share price weakness offers a great buying opportunity into a great company.

WF00PP7777

Stada call is working out so far. Last week, there was another bid of 58 EUR per share. Think that a bid of 62 EUR per share could be realistic. This would add another 8% of return to my investment. Still an attractive risk arb situation as markets will continue to be flat in the next couple of weeks in my opinion.

WF00PP7777

Stada bidder war could drive the share price even higher. The current bid of 56 EUR is too low in my eyes. Can't imagine that the activists invested in Stada are accepting the offer. They will push for a higher price to maximies their return and the downside is pretty much protected. Thus, I bought some shares today.

WF00PP7777

Gilead Science one of the top value picks with limited downside potential. The worst is priced in. Company is sitting on a lot of cash. Even though the HCV business is in decline it is highly cash generative.