Farm products company
(BG - Get Report)
and semiconductor companies
(VSH - Get Report)
also made the list. And rounding out the 11 qualifiers is conglomerate
, a name that was featured in a May column I wrote,
"In Search of the Next Berkshire Hathaway."
Lest you think that you can get rich simply by going to the bank and buying thousands of rolls of pennies, I did a little experiment several years back when I realized that copper pennies were, at that time, worth 1.5 cents.
I purchased $10 worth of pennies at our local bank and, with the help of my childen, unrolled them, inspected them and separated the copper variety. Unfortunately, there were just 10 copper pennies out of 1,000, a miserable 1% hit rate. Complicating matters as copper continued to move higher, was the fact that a law was passed in late 2006, making it illegal to melt pennies (and nickels, too).
So much for get-rich-quick schemes. Value investing is not easy, but it's easier than that.
At the time of publication, the author was long IM
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.