THE STOCKDOCTOR

Stockdoctor Hedge Fund Update...June 2008

noreply@blogger.com (Administrator) — Sun, 01 Jun 2008 14:17:41 PDT

In Jan 2008 I started a small 1 Million dollar hedge fund at marketocracy.com. I haven't posted much since as there were enough stock recommendations in that fund.
Its time to give you guys some update on the performance as I promised.

The fund has made 18.18% since its inception. I have not changed anything since I started it (other than added some SOLF shares in Feb)

So here is the link for details of individual stocks.

You can see the chart and how we beat DOW, NASDAQ and S & P. (By we I mean you and me!). Hope you guys were following some of the stocks from the list.

Timing the Sector!

noreply@blogger.com (Administrator) — Mon, 25 Feb 2008 18:51:42 PST

Since my first post on POT in Oct, fertilizer sector has been top of list. Now its trading more than 50% up. In fact look at CF in my SMFF fund. It is also doing very well even since Jan when I started that fund.

Dry bulk shipping is another hot sector that I have had recommended since last year. DSX, DRYS, TBSI have all given more than 3 opportunities for swing trades of more than 50% each. Again just look at the gains on dry bulk in my SMFF portfolio.

This is a very easy decision for me as I am up so much on there fertilizer and dry bulk. I will be cutting some of these shares from my portfolio.

Anyway, SMFF is an experiment to see how that kind of portfolio would do in long run, without any manipulation or active trading. I will keep you posted quarterly on how SMFF worked out.

SMFF Fund Update

noreply@blogger.com (Administrator) — Thu, 14 Feb 2008 18:00:34 PST

Added SOLF on Feb 11: 2000 shares for 32,900
Total Value of the Fund is: $1,070,721.89
Cash: $7,306.75
Stock Value: $1,063,415.13
Watch the activity of the fund HERE as of Feb 14, 2008
P.S. Happy Valentine's day!

Fund Update

noreply@blogger.com (Administrator) — Mon, 04 Feb 2008 06:00:30 PST

This is the stratification of the SMFF fund... (updated info from Friday)

It started at 1 Million and its current value is
Value: $1,074,281.53
Cash: $40,755.12
Stock Value: $1,033,526.42

Unclassified Market Cap : Unclassified Style 31.81%
Micro Cap : Value 21.96%
Small Cap : Growth 8.39%
Mid Cap : Blend 8.01%
Mid Cap : Growth 7.80%
Micro Cap : Blend 7.22%
Small Cap : Value 5.67%
Micro Cap : Growth 4.88%
Mid Cap : Value 4.26%

I see ACTU getting hit after that outlook. I think its a buying opportunity at these levels. I won't be surprised to see this stock above $6 again in 2008.

ISRG looking good again!

noreply@blogger.com (Administrator) — Sun, 03 Feb 2008 20:50:25 PST

ISRG has been a stellar stock since the first time I brought it on stockdoctor in Aug 2007. It was just $199 back then. Later it climbed rapidly and here it was 50% up. My friend from 100thousandblog still hasn't sold his position since Aug 2007. I have a small position and I have managed to add to it on Friday. Lets see how it goes from here.

In the early 1970s, Dr. James Croak was one of the first Toledo-area
doctors to perform laparoscopic surgery, using small incisions and a telescopic
system that has become routine for many operations.
Now his son, Dr. Andrew Croak, is among local doctors taking laparoscopy to the next level, controlling robotic arms that hold cameras and surgical instruments from a console near the
operating table. Led by St. Vincent Mercy Medical Center, where robotic
surgeries have been performed for nearly five years, four Toledo-area hospitals
now have da Vinci Surgical Systems -- which cost roughly $1.5 million each --
from Intuitive Surgical Inc....Full Story from Toledoblade.com

I have started my own Hedge Fund!

noreply@blogger.com (Administrator) — Wed, 30 Jan 2008 11:52:35 PST

No don't pour in the money yet...haha
Its a make believe hedge fund where I will be tracking the performance of some small/mid cap growth stocks. I started it with marketocracy.com.

Here is the sector allocation...

Information Technology 31.13%
Industrials 20.35%
Materials 18.76%
Health Care 12.52%
Telecommunication Services 5.89%
Financials 4.08%
Consumer Staples 3.03%
Consumer Discretionary 2.17%
Energy 2.08%

LINK to the FUND performance since inception few days back. I will keep you updated with the performance. My plan is to keep the fund as it is without any tampring for one year at least.

Fund started with 1 Million USD and its current value is:

Value: $1,037,017.65
Cash: $41,038.52
Stock Value: $995,979.14

OKAY lets start phase # 1 investing.

noreply@blogger.com (Administrator) — Wed, 23 Jan 2008 17:58:05 PST

IBM acquires AptSoft Corp. and I am adding to my long time IBM position.

People who are starting with IBM for the first time should follow my age old advise about doing a phased investment. If you have 10,000 dollars to invest, start with 2,500 every day over next few days. This is definitely a intermediate to long term investment. I believe this stock is not only a great American classic, but is aware of the future needs of the world. I think valuation is just right for a great return for 2008-2010.

Good luck...and remember to phase it...you might get lucky and get some below $100 if market helps.

Red is the new theme in the stock markets

noreply@blogger.com (Administrator) — Mon, 21 Jan 2008 15:35:37 PST

I have been busy with some personal things lately and have not been able to pay attention to the market much. Well looks like it was a good idea anyway! Markets have taken a plunge since the start of the year and even though some stocks appear very cheap, I am afraid even touching them with a 10 foot pole. I have always believed in hedging your investment, but now even more so. There are various option strategies that help you hedge your bets on individual stocks.

Now before you start stampeding me with nasty emails, dare I say that I still have some investment in stock (with downside protection).

What I recommend is wait and watch carefully....I get a feeling there would be opportunity. I will be watching with you and updating about some new investments for the year 2008. Just don't smoke your cash away during these volatile market days. Don't buy anything thinking "this is the bottom" and "it can't go any further down. In fact 90% of my picks have been at the 52 week high and 100% of them have been successful. So just keep cash handy and we will find some good investments in 2008. I know its hard to believe.

Merry Christmas everybody!

noreply@blogger.com (Administrator) — Mon, 24 Dec 2007 21:25:43 PST

2007 was another great year for the stock market. I hope everybody here learned some trading disicpline this year and would try to trade less next year. No reason buying and selling the same stock 100's of time in a year That is plain counterproductive.

I have been getting a lot of emails lately (may be cause I have reduced the number of stock recommendations lately). I have replied to almost all of them over last couple of weeks. I felt like making a personal connection with some of the readers. Anyway, Merry Christmas and Happy New Year everybody!

Blue Coat Systems Inc (BCSI) looks ready!

noreply@blogger.com (Administrator) — Fri, 14 Dec 2007 07:47:46 PST

Since my post back in July HERE BCSI had gone up more than 50% at one point (1:2 Split adjusted). On july 16th (my first post day) split adjusted BCSI was $27.35. To put it in 100% club, it will have to hit $54.70. Its 52 week high was 53.37...which is just below 100%! I guess I will have to wait for this one to hit $54.70. I will let you know then...

This is the PR from Dec 3, 2007.
Blue Coat Systems, Inc. (Nasdaq:BCSI), a leader in WAN Application Delivery and Secure Web Gateway, today announced that Gammon Construction Limited (Gammon), one of Asia's top construction contractors, has deployed Blue Coat(R) ProxySG(R) and ProxyAV appliances at its Hong Kong headquarters and its regional offices in mainland China, Singapore and Macau. The new implementation is designed to accelerate business applications and secure Web communications across the Wide Area Network (WAN) and distributed Internet gateway connection points for the company.

This and many other good news coming from the company makes it a perfect target for me to get back here. Again, I have bought some below $35 and will be adding periodically over this month. I can't see this one going much less than $35. It will be a blessing if this current downturn takes it below 35 (I could add more)

Potash (POT) up 18% since first posted in Oct 07'

noreply@blogger.com (Administrator) — Fri, 07 Dec 2007 14:25:10 PST

In my first post on POT I talked about the chemicals and fertilizers being a hot sector and that still is the case. POT has moved more than 18% since that post. There is a rapid and unending demand for fertilizers in this modern fertilizer driven farming world and no farmer wants to grow crop without a little bit of potash in the ground. Potash is a giant in the sector with more than 30% of worlds supply comes from this company. They recently disclosed plans to build a $1.8 Billion mine. The project will boost the capacity of the company from 10.7m tones this year to 15.7m in 2012. Make way for this HULK people!

My post from Oct 9th
Fertilizers and Chemicals is the hot sector I am talking about. The companies in this sector are so hot, that it is almost irresistible to not get in here. It almost seems like its too late but I think there is significant room for growth and many fund managers love this company. There will have to be some serious problem in growth before we see some downturn. I think it might give another chance to get in soon....but I am not counting on it. I want to be in baby!!And as usual I always recommend get in with the leaders and POT is the leader by far.There are some others like MOS and TRA, but their accounts don't look anything like POT. (Does not mean they won't be hot. I like this sector all together and wont miss out)

Will Santa Rally? or Mr. Grinch will steal the christmas?

noreply@blogger.com (Administrator) — Wed, 05 Dec 2007 04:52:05 PST

CEO Confidence at Levels Not Seen Since Start of Iraq War; Sluggish Hiring Environment Expected to Last Throughout 2008...Read More from Marketwire

S&P's Mark Arbeter believes the S&P 500 may be in for a critical test of its recent lows..Read Full story from Businessweek.com

Dollar slips against a basket of currencies...excpet Canadian Loonie Read More from MarketWatch.Com

From the Heights of $100 Oil, Most Stocks Look Vulnerable ...excellent report from NYT

Cut or No Cut.50/50...Read More from Bloomberg

Another Pull back???? Read More from MSN Money

New Lifecycle for Amazon stock...may reach its all time high

noreply@blogger.com (Administrator) — Fri, 30 Nov 2007 18:47:44 PST

Amazon kinda surprised everybody with its triple digit growth every quarter of 2007. It has been on my radar all year long. It is close to its all time high of $116. It is currently trading at a PE of more than 100 which makes me little uncomfortable buying yet. But I find this company very intersting cause: management owns almost 1/4th of the shares and institutions own 1/2 of the shares leaving 1/4th for us to fight for. It not only beat analysts estimates all year long....also will continue to grow fast over 2008! Not to mention looks like they are selling their Kindle like hot cakes (Although Adobe will beg to differ)

Amazon.com, Inc. (Amazon.com) operates retail Websites and offers programs that enable third parties to sell products on its Websites. The Company's retail Websites include www.amazon.com, www.amazon.ca, www.amazon.de, www.amazon.fr, www.amazon.co.jp, www.amazon.co.uk, www.joyo.com, www.shopbop.com and www.endless.com. In May 2007, Amazon.com acquired www.dpreview.com, a site for digital camera information and reviews.

Disclaimer: I will be starting a small position in AMZN sometime soon.

SIGMA turned out to be early Christmas gift indeed!

noreply@blogger.com (Administrator) — Wed, 28 Nov 2007 13:36:45 PST

My post last week on Sigma Design bein early christmas gift seems to be really coming true. Sigma Designs reported another BLOWOUT quarter few minutes earlier.

Net revenues for the third quarter were $66.2 million, up 56% from $42.5 million for the previous quarter and up 164% from $25.1 million reported for the same period last year. The increase in net revenues was primarily attributable to increased SoC sales to manufacturers of IPTV set-top boxes and Blu-ray players. Net revenues for the first three quarters of fiscal year 2008 were $144.8 million, up 141% from $60.0 million for the same period in the prior fiscal year.

Guidance also above estimates!

Another one of my favorite stocks making it to the 100% club. Since my first post in July, SIGM has doubled itself up!

Have fun living this dream.. and happy christmas shopping everybody

Links for last week of Nov 2007

noreply@blogger.com (Administrator) — Sun, 25 Nov 2007 09:58:00 PST

There have been recessions without such a large impact on housing, most notably the 2001 downturn. But the housing market has never done this poorly without a recession starting....full story from NY Times

Fannie Mae and Freddie Mac are in no position to bail out the housing market ....full story from Washington Post

Winners and losers as $100 oil approaches read full story fromMarketwatch.Com

Euro-Zone Banks Hoard Cash,Prompting ECB to Take Steps ..full story from WSJ.Com

U.S. consumers spent $10.3 billion on holiday purchases the day after Thanksgiving, 8.3 percent more than a year earlier... full story from Bloomberg.Com

Early Christmas gift!

noreply@blogger.com (Administrator) — Mon, 19 Nov 2007 13:50:57 PST

SIGMA design is one stock I like to swing trade! I first got in SIGM in july (my first post) and unloaded it in late Sep (my post from sep 20th) after solid 65% gains. But to my suprise today it coming down hard and could'nt resist but start another small position. I like small positions in these markets cause it can give me another chance. I got filled below $50 and was happy to start with this.
SIGMA designs Inc. (SIGM): Sigma Designs' SoCs power millions of home entertainment products around the world. According to Sigma Designs, a Sigma SoC is inside approximately 75 percent of the world's IPTV set-top boxes, the first media smart HDTVs, six of the leading Blu-ray DVD players, and dozens of digital media adapter products on the market today.
Now please tell me why should I not buy these shares! You know how much those blue ray DVD players cost and in few months every new computer on market will have BRD on it. That itself is enough reason for me to start buying! Forget about the rest of the products ....like these

My post from Sep 20th said
" I first posted this stock back in July HERE is the POST when it was $31. I have been on following and reporting on this stock since then regularly. If you have been in this stock all along and have got this kind of returns its time to bail. I know by selling here there is a chance that you could lose another 5-10% more you could have made. But common now I think 65% is good enough money! "

Soft Landing or a Crash? Nov 16, 2007

noreply@blogger.com (Administrator) — Fri, 16 Nov 2007 17:01:00 PST

Why the economy has absorbed high oil prices fairly easily, and why it may no longer....read full story from Economist.Com

Sharp drop in industrial production is biggest since Jan. Industrial production dropped in October by the largest amount in nine months, reflecting a big drop in utility output and continued troubles in autos and housing-related industries...read full story USA Today

Four at Four: Fannie, Not-So-Funny. The queasy trade exhibited in stocks today suggests not much more than a group of people desirous of getting away from the trading desk to reach the weekend and before long, Thanksgiving, or a group of pranksters trying to confound people. ..read full story from WSJ Market Beat

Wall Street ends week on uptick. Stocks finish seesaw session higher, as investors weigh corporate earnings and the fate of the Federal Reserve's rate-cutting campaign....read full story from CNN Money

Air Methods Corporation (AIRM) more than 35% up since posted

noreply@blogger.com (Administrator) — Tue, 13 Nov 2007 19:47:55 PST

Air Methods Corporation (AIRM) is up more than 35% since posted first on this blog on Sep 7th 2007. This is a special opportunity as I think even if the market goes in to correction mode over next few months, I think AIRM is a good place to be. Good luck

Actuate Corporation (NASDAQ:ACTU) gives you another chance

noreply@blogger.com (Administrator) — Thu, 08 Nov 2007 05:12:16 PST

Actuate Corporation (NASDAQ:ACTU), the leader in Business Intelligence, Performance Management and Reporting Applications, today announced the company's President and CEO, Pete Cittadini, has been recognized as one of The Innovators 2007 by Bank Technology News. In its annual ranking, BTN profiles the 25 most advanced people, companies and technologies whose contributions to the industry are redefining how financial businesses operate. In addition to being recognized in this year's ranking, Cittadini will be among 10 individuals inducted into The Innovators' Hall of Fame at an awards dinner celebrating the honorees at the Wynn Las Vegas on Nov. 12.
Since its founding in 1993, Actuate has served the information application needs of the world's leading banks including four of the top five US-based global banks and 22 of the top 25 financial services providers in Europe. Under Pete's leadership, Actuate has maintained its reputation for excellence in financial services by keeping pace with the changing face of banking and the demands of retail and corporate banking customers for richer, more personalized online services that make their lives easier. By continuously innovating to meet the needs of its customer base, Actuate supports a common drive toward generating greater customer value through initiatives around transparency, regulatory compliance and better customer service. Today, banks rely on Actuate to deliver reports that help them meet existing and emerging corporate governance standards.

If this stock drops down even little bit more I would put all my account money in it!

How one year of loss can set your portfolio back.

noreply@blogger.com (Administrator) — Sun, 04 Nov 2007 07:36:31 PST

Let me take you through a scenario here. Lets say you started in 2001 with $10,000

Year	Portfolio at the start of year	% returns	Final Portfolio
2001	10,000	10%	11,000
2002	11,000	10%	12,100
2003	12,100	10%	13,310
2004	13,310	10%	14,641
2005	14641	10%	16,105
2006	16105	10%	17,715
2007	17,715	10%	19,486
01-07	10,000	94%	19,486

You almost doubled your portfolio in 7 years with just 10% return per year and considering that the market has been good over last few years I am being very conservative here.

Lets say as I mentioned in this post about suddenly losing a chunk of money from your portfolio one year would set you back BIG time. Lets see another example here.

Year	Portfolio at the start of year	% returns	Final Portfolio
2001	10,000	10%	11,000
2002	11,000	10%	12,100
2003	12,100	10%	13,310
2004	13,310	-25%	9,982
2005	9,982	10%	10,980
2006	10,980	10%	12,078
2007	12,078	10%	13,285
01-07	10,000	32%	13,285

So one bad year set your portfolio back by 4 years worth of gains. If you see closely you money at the end of 7 years in second scenario is the same as the money at the end of three years in the first scenario.

Lets see another scenario. Here you lost 33% one year and see what a difference it made at the end of 7 years.

Year	Portfolio at the start of year	% returns	Final Portfolio
2001	10,000	10%	11,000
2002	11,000	10%	12,100
2003	12,100	10%	13,310
2004	13,310	-33%	8,918
2005	8,918	10%	9,809
2006	9,809	10%	10,789
2007	10,789	10%	11,867
01-07	10,000	18%	11,867

The bottom line....Don't get ahead of yourself and be careful not to lose too much during the correction years. Its easier said than done, because market does not let you know when its going to fall. And most of times by the time you realize its in a long term correction, its too late.

Consistent performance is important in stock market

noreply@blogger.com (Administrator) — Sat, 03 Nov 2007 08:42:57 PDT

Consistently making money in the stock market is not always possible but it is extremely important not to give away your profits. We have had good last 5 years in the stock market and I am sure all the readers here are sitting on fat profits. If you are very lucky you could be making 50-150% each year trading good stocks and actively being involved in your portfolio. Others who let their brokers do the work might be happy making 5-10% each of the last five years (which is also acceptable). The point here is, if the market makes a turn from here and heads for a correction over next few years (I am not suggesting anything happening over few months). I don't expect you to correctly recognize the top and get out, but I do expect you to limit your loss when it happens. Remember losing 33% of your portfolio would need you to make 50% gain to just break even.

Percent Loss ------Required gain to break even

-10% ------------------ 11%
-20%------------------ 25%
-33% ------------------ 50%
-50% ----------------- 100%
-75%------------------ 300%
-90%------------------ 900%

Bottom Line: 20-25% should be the most you lose from your total portfolio during the market correction years.

Shanda Interactive Games Ltd. (SNDA) 25% up since posted

noreply@blogger.com (Administrator) — Mon, 29 Oct 2007 18:19:19 PDT

Shanda Interactive (SNDA) has been steadily making its move over last month. Since I first posted here it gave couple more opportunities to get in. I remember my post said "If you missed GME get in Shanda". I believe Gamestop (GME) is consolidating very nicely here and if mad money had not recommended it I would have done it here. But anyway, I love the company and congratulate them over their 5000th store.

and John, Thanks a lot for these kind emails and don't think that I don't read them. I am just busy with a lot of work and can't reply to everybody. I am happy for your success and hope you continue your path to riches cause we family people deserve to dream big.

DOC YOUR#1 ,DON'T KNOW WHY AND HOW YOU DO IT,MAYBE,YOUR GOD SENT,WISH I COULD REPAY YOU WITH A STEAK DINNER,BUT DON'T KNOW MUCH ABOUT YOU ,ALL I KNOW IS YOU KNOW HOW TO PICK THEM .GOD BLESS YOU MAN,TAKE CARE

DOC ur the king ,bought snda this am,cant belibe how it flying!thank you
how you do it?keep up the good work doc,i have 2 kids wife so every little
helps,i know you must be besuys guy but i hope you can write me some time,thanks
again,love to buy you a steack dinner some day,iam in RI area,thanks again
doc,love to hear from you some day soon

Phase Forward Incorporated (PFWD)

noreply@blogger.com (Administrator) — Thu, 25 Oct 2007 15:37:37 PDT

Phase Forward Incorporated is a provider of integrated enterprise-level software products, services and hosted solutions for use in global clinical trial and safety monitoring activities. The Company's product line comprises six software solutions: InForm, an Internet-based electronic data capture solution for collection and transmission of patient information in clinical trials; Clintrial, a clinical data management solution; Clintrace, a solution for monitoring drug safety and reporting adverse events that occur during and after conclusion of the clinical trial process; WebVDME, a signal detection solution for post-marketing data; CTSD, a signal detection solution for data from clinical trials, and WebSDM, a system for validating and reviewing clinical trial data represented in formats meeting industry standards. The Company's customers include pharmaceutical, biotechnology and medical device companies, as well as academic institutions and governmental regulatory agencies.

Great company. May be little higher P/E at this time. I have started with a small long term position in this company. They are the leaders in the medical software business and have a good future. I listened to the "Webcast of their earnings" through google..HERE. Well lets see how it goes from here. It has a good support from institutions and large short interest. This makes it kind of exciting for me. I think the huge run up yesterday was due to short covering. I see a great next year and we might see some run up over one-two year range.

ISRG has not looked back: 50% up since posted

noreply@blogger.com (Administrator) — Sun, 21 Oct 2007 19:07:13 PDT

ISRG since first posted here back in AUG has not really looked back. This company is a true example of excellence and MONOPOLY...They make these daVinci surgical robots which are being increasingly used in operating rooms worldwide. In fact it is considered state of the art to get this robot at your institute and surgeons across the globe are fighting over who can use it fisrt for various types of surgeries. From heart (coronary artery bypass) to prostate and colon everything can be done by this robot. Obviously it does not eliminate the need for surgeon in the OR, but this daVinci arm helps the surgeon minimize the incision and hence patients make a faster recovery. And this should explain why this company went from $20 in 2002-03 to $280 in 2007.
Again, watch for companies which stay up inspite of the broad sell off in the market and ISRG was a good example. If you see the chart, back in August ISRG maintained its PPS while every other stock was losing 20-30% within days. That indicates strong fundamentals and strong will of institutional investors to stick it out during the sell off. Overall, it means a good company with bringht future.

This is the dicussion we had on ISRG back on Aug 23nd. Good Luck everybody.

" Doug said...
Sometimes you aren't very clear. Like your post on 9/18 regarding
ISRG. That one could have been interpreted as a sell. Your latetest post says:
"slowly". Does that imply slower growth ahead? In sumations sometimes it appears
you are puting out soundbites rather than clear statements.

August 23, 2007
Administrator said...
Doug: Sorry about about the confusion. Please don't interpret my posts as buy or sell anyway!But I never post a stock on the blog which I beleive is a SELL!All the stocks that I put up here are stocks of good companies with bright future and excellent prospects of growth. I find them through several technical and fundamental scans that I have developed over time. Your other question regarding slow growth of ISRG. I meant
to say that their revenues are not going to have a sudden jump but will grow at
a pace of 30-40% ($3-4) over next two years. Which is very good earning
potential. Remember 94% of the shares are owned by institutions and some since
2004 (when price was $20) so it leaves very little for you and me. How far can
this stock go?.....depends on how long these companies want to hold on to thier
shares. Looking at the recent market sell off, seems like institutions are hapy
with 30-40% growth and will hold on to their shares for a while. This could mean
another 52 week high for the stock.Again good luk and I am sorry that you missed
the >5% run up ISRG had since Aug18th.

Potash Corp./Saskatchewan (USA) (NYSE:POT)

noreply@blogger.com (Administrator) — Sat, 20 Oct 2007 11:11:02 PDT

Potash will be reporting its earnings on Oct 25th. Recent surge in oil prices has led to renewed interest in corn and sugarcane derived ethanol as alternative fuel. And POT is the number one supplier of fertilizers for these crops.

Potash Corp. price target raised to US$115 at UBS

Thanks to recent gains for potash prices of US$30 per tonne in some Asian and U.S. markets and US$50 in Brazil, UBS analyst Brian MacArthur is boosting his estimates for the world’s largest and lowest-cost publicly traded producer of the fertilizer – Potash Corporation of Saskatchewan Inc. (POT/TSX, POT/NYSE).
“Given its low-cost operations, which are backed by 100 years of reserves, its associated potash investments, and over 70% of the world’s excess capacity, we believe it is well positioned to meet increasing potash demand,” Mr. MacArthur told clients in a note.
But its not just a potash story, he added. The company is also the world’s number three phosphate producer and ranks fourth in nitrogen.
Mr. MacArthur continues to rate Potash a “buy,” while his price target moves up to US$115 from US$97.