Paul Mueller Co. (MUEL)

[SSKILLZ1]

MUEL

I have to honest I think you want to find negatives on everything (And I have no problem with that, if your position is your bearish on everything), at least it seems that way, because everything has a negative, sure if we look hard enough we can find a reason not to invest in any stock or any investment. You can go on about REITS with IR, or preferred with interest rate rising, or stocks, because they are up so much, and trade higher then where they were 2 years ago. That would be the case of say you wouldn't buy PFHO at $8 because it was .80 a year, but it goes to $30, because you missed out on .80. Countless other microcaps over the last couple of years would be an example as well, the question to me always is whether it is a great investment now, not where the stock price is on any security a year ago versus now.

Muel Trades almost 30k dollar volume a day (which is more then a lot of other stocks we talk about), and it went from $13.50 to $33 yet, so the idea that it won't move on good news is not true, I'm also not saying muel should trade at a 15 pe I'm saying it should trade at a pe of 7, even a pe of 5 get us to about $50. And Your paying a ton for MUEL now I might add what are we looking at a PE of 3 times (q4 annualized). The balance sheet also sucked a year ago by the way, so it is immensely more valuable now in my opinion. The backlog is up about 40% y/y so to me the argument that this is the same company a year ago, when book value Is up about $26 over the last year, the backlog is up 40%, and business has never looked better is simply not true. But that is what truly makes a market. Hope this helps. All is just my opinion, and I could always be wrong though.