SanDisk Corp. (SNDK)

[chmcnfunds]

Paul Tudor Jones Keeps Buying xxx, xxx, xxx, xxx, xxx, SNDK

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Paul Tudor Jones II is the founder of Tudor Investment. As of September 9, 2011, Jones has 701 stocks of total value of 2.583 million with quarter over quarter turnover of 2.6% and a net worth 3.2 billion.

Jones earned an undergraduate degree in economics from University of Virginia in 1976 as well as started to work on the trading floors as a clerk and then became a broker for E.F. Hutton. Then he went to Harvard Business School but realized that he could not learn skills that he needed in life from school. Jones' cousin is William Dunavant Jr., whose Dunavant Enterprises is one of the world's largest cotton merchants, led Jones to work for commodity broker Eli Tullis, who then mentored him in trading cotton futures at the New York Cotton Exchange.

In 1980, Jones founded Tudor Investment Corporation, which is today a leading asset management firm headquartered in Greenwich, Connecticut. The Tudor Group, which consists of Tudor Investment Corporation and its affiliates, is involved in active trading, investing and research in the global equity, venture capital, debt, currency, and commodity markets. Tudor Investment charges the hedge funds he manages two to three percent higher than the industry standards.

One of Jones' earliest and major successes was predicting Black Monday in 1987 when he tripled his money due to large short positions. Jones was instrumental in the creation of FINEX, the financial futures division of the New York Board of Trade, and in the development of the U.S. dollar index futures contract that trades there. He served as Chairman of the New York Cotton Exchange from August 1992 through June 1995.

Jones futures trading style and beliefs can be summarized with a few guide lines. He does contrarian investing by attempting to buy and sell turning points, and keeps trying the single trade idea until he changes his mind, fundamentally. When he develops an idea, he pursues it from a very-low-risk standpoint until he has been proven wrong repeatedly, or until he changes his viewpoint. Otherwise, he keeps cutting his position size down. Then he trades the smallest amount when his trading is at its worst. Jones is also a swing trader; the best money is made at the market turns. Has missed a lot of meat in the middle, but catches a lot of tops and bottoms. The key is to play great defense, not great offense. Also, never average losers. He has mental stops. If it hits that number, he is out no matter what.


No. 6: Sandisk Corp. (SNDK), Weightings: 0.186% - 119,100 Shares
Sandisk Corporation designs, manufactures, and markets flash memory storage products that are used in a wide variety of electronic systems. Sandisk Corp. has a market cap of $11.74 billion; its shares were traded at around $48.84 with a P/E ratio of 11.4 and P/S ratio of 2.4.

Standard & Poor's Ratings Services upgraded SanDisk Corp.'s credit status a notch closer to investment grade on Dec 20, citing strong demand for the data-storage maker's memory chips. The upgrade comes as other chip makers face tough comparisons in 2012 due to weakening demand for some of their products. By contrast, S&P expects SanDisk will continue to benefit from favorable operating conditions as the proliferation of smartphones, digital music players and other such devices hold up demand for the company's NAND flash memory. S&P now rates the company at double-B, two steps below investment-grade territory. Its outlook is stable. The ratings service expects the company's financial metrics will remain meaningfully stronger than most companies with similar ratings, though the inherent volatility of the memory semiconductor sector will continue to weigh on its credit status. The stock has climbed 15% over the past three months.

Sanjay Mehrotra who is President/CEO at SanDisk Corp., sold 10,000 shares on Dec 09 at $50.08 per share for a total value of $500,788. The shares recently traded at $46.90, down $3.49, or 6.93% since the insider sale.

Paul Tudor Jones owns 119,100 shares of SNDK, valued as $5 million as of Sep. 30, 2011, which accounts for 0.186% of his equity portfolio. Paul Tudor Jones added his positions in the Jun. 30, 2011 quarter by 373.42%, again in the Sep. 30, 2011 quarter by 218.45%. He also had an enormous spike with 557,000 shares in quarter 3 2006 as well as a smaller spike with 246,000 shares in quarter 4 2008. Since late 2009, Jones had a relatively varying but low position until the most recently quarter when he went from 37,000 shares last quarter to the current 119,000.
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