Q: An additional comment on the Ryder System question I submitted. In their corporate presentation they state they are righting down the residual value of the trucks in their fleet more but everybody I know in the trucking industry says that there is a long wait of tractors (trucks), trailers, reefers, etc. so that should keep the market for used equipment strong and therefore prices up., right? Why the bigger right downs in residual value?

Q: I was perusing for low p/e US stocks and I came across Ryder Systems. Low p/e and an attractive dividend that has been paid for 45 consecutive years. I went to the company web page and looked at a corporate presentation and I was surprised to read that this company has a lot of verticals (I thought they just rented trucks!!). It seems to provide a lot of services for the e-commerce retailers which has secular growth. I know they have a lot of debt (but doesn't anyone in the truck leasing business need a lot of working capital?) so why does this company seem to trade a such a low multiple with a decent dividend? Price momentum is poor but I have other stocks that are momentum plays and I like to have some value stocks as a counter balance to the portfolio. Is R good value or other there issues I have not uncovered?

Q: Good afternoon:
I would appreciate your view of Romarco Minerals in light of the proposed takeover by Oceanagold. Do you consider an existing position worth holding?
Thank you.