Scrap companies

[Karl Marx's Camel]

I am considering buying some shared in scrap companies. Companies that buy and utilize scrap and such.

Are there any companies where you can get some shares in this area? Thanks

[overlord]

not sure where you are, but here in Australia, (and US), there is a huge scrap company called SIMS which makes like 25-30% per annum. Not sure what the price is at the moment, It was 'cheap' 9 months ago but i think its too high to buy at the moment.

My general 'buy' indicator for a 'hold forever' is a company whch makes at least 15% return on shareholders equity for the last ten years and has at least doubled book value and earnings per share in that time. Then make sure it sells for less than twice book, or less than a P/e of 12. Also makes sure dividends are at least 7%. Good luck man.

[Karl Marx's Camel]

Thanks.

I am really looking for a Chinese company. I heard they are doing extremely good in Japan/China.