More About Our "Undervalued Stock of the Month"
Every month our research staff puts the spotlight on a unique security that is trading at an enormous discount to its intrinsic value. In some cases this discount can reach 20%, 30% . . . even 50% or more, giving savvy value investors the chance to purchase quality stocks for just pennies on the dollar.

This month we'll profile a dominant, highly-profitable semiconductor giant that is trading at a wide 27% discount to what our research is telling us the stock is really worth!

We'll tell you all about this unique value play later in today's report. In the meantime, all you need to know is that this firm is a worldwide leader in its space, designing the critical backbone components used to run everything from computer modems to  mobile phone handsets to next-generation DVD players. The company has built a diversified base of loyal customers, and deep-pocketed tech giants like Apple, Cisco, Dell and Motorola all feed this company a steady stream of product orders. 

The end markets for many consumer electronic products are growing swiftly, and this company stands to be a major recipient of that expansion. For example, the market for digital televisions is booming, with global sales forecast to rise +60% over the next several years to reach $8 billion. This company is poised to cash in on that growth, supplying the chips needed to power TV receivers, set-top boxes, and other integral components.

In the meantime, this rapidly growing company has already been growing its sales at four times the pace of the overall industry. It also enjoys an exceptionally strong balance sheet and a steadily rising book value. As of last quarter, the company was debt-free and sported a hefty cash balance in excess of $2.5 billion, or roughly $4.50 per share. 

Not surprisingly, a variety of major institutions have piled into the stock in recent months, attracted by the firm's undervalued share price, its consistent free cash flow generation, and its tremendous long-term growth potential. With such well-respected institutions as Fidelity, Legg Mason and Vanguard scrambling to invest in this unique value stock, the firm's institutional ownership has jumped as high as 85% in recent quarters. Here at StreetAuthority, we think it's time for the little guys -- America's millions of small investors -- to start getting in on the action.

So . . . how on earth did this industry leader become one of the best bargains on Wall Street?
In the past, our "Undervalued Stock of the Month" has typically sold at or above its fair value. Eager to grab a piece of this dominant, fast-growing enterprise, investors have at times paid as much as $182 per share for the stock. 

On the operational side, this firm is still in great shape. However, due to a broad sell-off in the overall market several years ago, the stock tumbled more than -90% (see below). Although the shares have bounced back strongly since then, our "Undervalued Stock of the Month" is still trading -80% below its all-time highs, providing value investors with a great entry point . . .

Is this recent sell-off warranted?

Absolutely not. As you can see in the chart below, on the operational side, this firm is still in great shape, delivering steady, consistent revenue gains throughout the past several years . . .

So although our "Undervalued Stock of the Month" has seen its share price decline in recent trading, the firm remains on sound financial footing and continues to grow at a rapid clip. And best of all, thanks to its recent pullback, the stock is now trading at the same price it was selling for back in 2002!  With profits having jumped from a loss of -$2.8 billion in 2002 to a gain of $400 million in 2006, the stock looks grossly undervalued at current levels.

Based on these positive factors, as well as our analysis of the firm's projected future cash flows, we believe this stock is worth at least $48 per share -- well above where the shares are trading right now. But today's discount prices might not last long. Going forward, value investors (like us) could step in and send this firm's shares skyrocketing to their estimated $48 value. And if they do, then this stock could jump +27% or more within the next year!

To learn this company's name and ticker symbol right now, please visit this link.  In the meantime, please read on to see other examples of companies that have rebounded sharply from their lows, helping value investors make a bundle in a very short period of time.

Tell me the name of this stock!

Now is the perfect time to invest in this undervalued stock. The reason is simple -- due to volatile market conditions, our "Undervalued Stock of the Month" is now trading at a 27% discount to what we believe the shares are really worth. 

It takes courage and conviction to buy after a steep sell-off -- but that's what smart value investing is all about.  Legendary value investor Warren Buffett put it best when he noted -- "We simply attempt to be fearful when others are greedy, and to be greedy only when others are fearful."

With our "Undervalued Stock of the Month" now trading nearly 80% below its highs, it's definitely time to get greedy. We believe investors need to capitalize on this undervalued security now, before the stock rebounds to our projected $48 fair value.  And we wouldn't be surprised if that happened soon.  After all, we've seen this exact same scenario before . . .

Consider the case of a different stock -- Yahoo (YHOO).  This web portal is a dominant, profitable player in the online world.  However, when the overall market turned south back in 2000, shares of Yahoo entered into a cyclical downtrend, tumbling sharply from 2000 to 2002.

But when the market turned sour on shares of Yahoo, investors got overly pessimistic -- sending the shares down to a low of under $5 per share in late 2002.  As you can see in our chart, that's when savvy value investors stepped in, reaping gains of +400% or more as the stock bounced back in subsequent years.

And this is by no means an unusual example. Consider the case of Amazon.com (AMZN).  After hitting an all-time high above $100, investors then left the stock for dead, sending the stock down to $6 per share by late 2001.  That gave smart, patient value investors a chance to rack up sensational gains in just a few short years. Amazon is now trading at about $40 per share -- nearly +700% above its lows. 

Bottom line -- if you want to profit from Wall Street's manic/depressive fluctuations, then you need to be patient, and you need to buy ONLY when a stock is trading at a discount to its fair value.  Going forward, if our fair value estimate is even close to being correct, then we should see a strong rebound in shares of our "Undervalued Stock of the Month."

If you're ready to capitalize on this stock's recent sell-off, then please visit the link below to learn the name of our "Undervalued Stock of the Month."

The 27% discount offered by our "Undervalued Stock of the Month" is not only dazzling at first glance, but it's even more impressive when you start to examine what it could mean for your portfolio. To help you get a better sense for just how profitable this investment idea could be for you, here's a quick look at the cash gains this security will deliver if it reaches our estimated fair value . . .

Portfolio Size	Gain if Stock Reaches Fair Value		Portfolio Size	Gain if Stock Reaches Fair Value
$50,000	$18,493		$500,000	$184,932
$100,000	$36,986		$750,000	$277,397
$250,000	$92,466		$1,000,000	$369,863

Of course, we would never recommend that you put "all of your eggs in one basket" by investing every penny of your hard-earned money into this one undervalued stock. However, the gains shown above are certainly achievable if you invest in a well-diversified basket of securities that are ALL trading at around 27% below their estimated fair value.

An Experienced Expert You Can Trust...  Nathan Slaughter has developed a long and successful track record over the years by investing primarily in deeply discounted securities. He uses advanced discounted cash flow techniques, along with a host of fundamental research, to uncover quality stocks that are trading well below their actual intrinsic value. Nathan's previous experience includes a long tenure at AXA/Equitable Advisors, where he provided comprehensive investment advisory services to small businesses and high net-worth clients. He also honed his research skills at Morgan Keegan, where he performed asset allocation, retirement planning, and consultative portfolio management services. Several years ago Nathan switched gears and decided to devote his time exclusively to financial analysis and writing. He has since published hundreds of articles for a variety of prominent online and print publications.  Nathan's educational background includes NASD series 6, 7, 63, & 65 certifications, as well as a degree in Finance/Investment Management. He currently resides in Shreveport, LA with wife Julie and sons Aidan and Riley.  Here's what some of our over 100,000 loyal subscribers have to say about Nathan's Half-Priced Stocks newsletter: "I have read many of your Half-Priced Stocks articles and used your techniques. By doing this I have turned my portfolios around and I am finally starting to make money with the stock market. In my opinion there is no better way to invest. " -- Frank C. "Half-Priced Stocks is right on target with its analysis and ideas. The articles are extremely informative and present a clear and profitable strategy." -- Michael Gluf New York, NY "Having read hundreds of financial newsletters on an ongoing basis for over 23 years, I can tell you that StreetAuthority's services are among the very best in the business. I am continually amazed at the broad range of in-depth and consistently excellent research that you offer to your readers. Keep up the good work!" -- Steven Halpern Editor, Money Show Digest

That's why it's so important for you to give our Half-Priced Stocks investing service a try.  In each and every issue, we'll introduce you to dozens of different securities that are trading at deep discounts to their estimated fair value. In some cases this discount can reach up to 50% or more, giving savvy value investors the chance to purchase quality stocks at half of what we believe they're really worth!

Learn the name of this stock and receive a steady stream of value investing ideas!

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A Closer Look at our "Undervalued Stock of the Month" for May 2007

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Editor Nathan Slaughter invests exclusively in stable, growing companies that are trading at a significant discount to their intrinsic value. Our "Undervalued Stock of the Month" for May 2007 is no exception to that rule. Its dominant market share, enormous operating margins and stellar growth prospects make this month's undervalued stock a "no-brainer."  

What Gives This Company Its "Edge" Over the Competition?

  Undervalued Share Price -- This firm's 27% discount to fair value makes it one of the most undervalued stocks in our coverage universe. In addition, the stock is trading at one of its cheapest levels in years, and at a very reasonable PEG ratio of just 1.1 -- well below the industry average. 

  Explosive Growth -- The downside to most deep-discount value stocks is often slow growth. However, the good news is that our "Undervalued Stock of the Month" is still growing at a torrid pace. Over the past 12 months alone, sales have increased almost $1 billion, or roughly +37% -- thanks in part to a stellar +60% jump in the mobile/wireless segment. Even better, earnings are forecast to race ahead at a sizzling +25% annual clip over the next five years.

  Global Leader in Innovation  --  Few firms can match this company's track record of innovation. The company has committed three-fourths of its total workforce (including 439 PhD professionals) to research and development and has been awarded more than 2,700 global patents. That intellectual property is a key competitive advantage that should translate into continued rewards for shareholders.

 Specialized Expertise -- The company's talented engineers and deep R&D staff are well-versed in many different sub-segments of the industry and have developed the most diversified product portfolio in the business. This is important, because many customers are demanding chips that can handle multiple tasks at once. As voice, video, and data all converge, the industry will increasingly migrate towards integrated solutions -- playing right into the firm's strength.

  Low-Cost Business Model -- After designing its products, the firm saves billions by outsourcing the actual production to state-of-the-art chip foundries in Japan, Singapore, and Taiwan. This strategy avoids costly capital expenditures for fabrication plants, freeing up plenty of cash that can be plowed back into the R&D department.  

  Cash Flow Generation -- Since 2002, the company's gross profit margins have expanded from 44% to 51%. That, in turn, has enabled the firm to convert more of its revenues into free cash flow. Over this span, annual free cash flows have soared from -$144 million to $799 million.

  International Gains -- This firm's involvement in a number of emerging markets has propelled its international revenues upward. Over the past two years, the percentage of company revenues generated overseas has jumped from 22% to nearly 30%. 

 Dynamic Marketplace -- Consumers around the world are demanding a host of feature-rich products like Bluetooth-enabled handsets, wireless video game controllers and portable media devices that can play both audio and video and surf the internet. Naturally, as the complexity and performance of these products rise over time, they will require faster processing speeds and data transfer rates -- and the makers of these products will increasingly turn to our "Undervalued Stock of the Month."  

  Recent Insider Buying -- After watching the shares drop sharply from their highs, company insiders and major institutions have been piling into the stock. These investing heavyweights now own almost 85% of the firm's outstanding shares. As a result, their interests are aligned nicely with those of common shareholders. (And with the stock now trading at a wide 27% discount to our $48 fair value, it might be a good idea to follow their lead.)

With all of these factors in mind, you may want to lock in this company's 27% discount today while it's still available. If you're ready to learn the name of this firm, plus join the thousands of other satisfied subscribers to our Half-Priced Stocks newsletter, then please visit this link.

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Just One of MANY Remarkable Undervalued Investing Ideas

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Our "Undervalued Stock of the Month" for May 2007 should deliver steady gains in the coming months and years . . . but if you're a value-oriented investor, then this stock certainly isn't the only game in town.

In each issue of his monthly Half-Priced Stocks newsletter, editor Nathan Slaughter introduces his readers to dozens of similar stocks that are not only trading at a steep discount to their intrinsic value, but are also trading well below their 52-week highs.  In the process, he provides two model portfolios that are chock full of high-quality value investing ideas (more on these in a moment).  In addition, in each issue he presents a listing of ten of the market's most heavily discounted securities. Many of these firms trade at discounts of 30%, 40%, even 50% or more below their fair value. 

In the table below you'll find a sample of the types of undervalued companies Nathan Slaughter has profiled in recent issues. (Remember -- the names and ticker symbols of these securities are available exclusively to our Half-Priced Stocks newsletter subscribers.)

Business Profile	Discount to Fair Value	% Below 52-Week High
Footwear Maker	35%	37%
Storage Systems Maker	40%	31%
Computer Manufacturer	48%	68%
Gambling Firm	36%	37%
Consumer Products Maker	52%	43%
Semiconductor Firm	30%	44%
Dry Bulk Shipping Firm	50%	37%
Internet Services Provider	47%	49%
Online Travel Agent	60%	48%
Water Transportation Company	46%	40%
Cruise Line Operator	39%	21%

The good news is that if you visit the link below, then we'll not only give you the name of our "Undervalued Stock of the Month" for May 2007, but we'll also provide you with immediate access to the names and ticker symbols of each and every one of the undervalued stocks listed above. You can find this information by scrolling through our recent issues of Half-Priced Stocks.  

To gain access to all of these company names, PLUS receive as many as SIX complimentary research reports, PLUS receive Nathan Slaughter's monthly newsletter and "Mid-Month Updates" filled with dozens of similar value investing ideas, please visit this link immediately.

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Value Investing Outperforms All Other Strategies

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Over the long haul, no other approach has proven to be more effective or reliable than value investing. According to research firm Ibbotson Associates, from 1968 until 2002 value stocks delivered an average annual return of +11.0%. By comparison, growth stocks returned just +8.8% over the same period, and the S&P 500 managed a mere +6.5% annualized return.

The Russell Investment Group provides us with another great example. The widely followed Russell 2000 Index is divided into two sub-indices: the Russell 2000 Growth and the Russell 2000 Value.

Take a look at our chart. In it, we show the growth of two $10,000 investments made from mid-1993 through the beginning of 2007; the first $10,000 was invested in the Russell Growth Index and the second in the Russell Value Index.

As you can clearly see, the Russell 2000 Value Index firmly outpaced the Growth Index for nearly the entire 15-year period. Growth stocks only assumed the lead temporarily for a few months surrounding the market's peak in 2000.

Contrary to popular belief, the chart shows that value stocks delivered strong gains during the bull market of the late 1990s. And as we would certainly expect, value stocks handily outperformed growth stocks throughout the bear market of 2000 to 2002. After all, during times of economic uncertainty, investors traditionally flock to quality value stocks for the safety and stability they provide.

This is a perfect example of why focusing on value makes sense for most investors. Hot momentum and growth stocks may come and go, but over the long run value consistently wins out. 

If you're ready to learn the name of our current "Undervalued Stock of the Month," plus join the thousands of other satisfied subscribers to Nathan Slaughter's Half-Priced Stocks newsletter, then please visit this link. In the meantime, please read on to learn more about our company and our Half-Priced Stocks newsletter . . .

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Register for Half-Priced Stocks today and you'll receive up to SIX in-depth research reports...

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With a subscription to our Half-Priced Stocks service, you'll receive much more than just the name of our current "Undervalued Stock of the Month."  You'll also receive a monthly email newsletter, regular mid-month updates, access to two model value portfolios, PLUS as many as SIX in-depth research reports (we'll tell you a bit more about each of these reports in a moment).

Half-Priced Stocks only from . . . StreetAuthority.com is a research-intensive financial publishing firm that aims to level the playing field for small investors by giving them access to the ideas and insights of some of the country's top investment analysts.  In times of economic, political and market uncertainty like we face today, individual investors need professional guidance more than ever. More importantly, they need advice from a reputable information source that they can trust. StreetAuthority is exactly that kind of company for so many reasons. Here are just a few of the things that separate us from the competition: Unbiased Research -- We pride ourselves on the quality and independence of our research, and we'd like to assure you that we are a 100% independent, unbiased source of investing information. We will never accept any compensation of any kind from the companies that we cover in our newsletters or on our web site. Experience -- Our team of researchers, analysts and editors has over a century of combined experience in the equity and bond markets.  Unique Investing Methodology -- Our writers and researchers specialize in uncovering investment ideas and opportunities that are often overlooked by more conventional Wall Street sources. When you subscribe to Half-Priced Stocks, you'll immediately notice a major difference between our content and that which you might find somewhere else. Proven Track Record -- When we say profitable, we mean it. We go out of our way to hire only the most qualified investment personalities on and off of Wall Street. What we're left with is an experienced team of researchers with a documented track record of proven success.  Reasonable Prices -- Other print/online financial newsletter publishers sell similar investment services and products for several hundred -- or in some cases even thousands -- of dollars a year. However, you can subscribe to our Half-Priced Stocks service for just $48.00 for a full year. That's less than $50 for information that could help you generate thousands of dollars in annual returns! Focus on YOU -- We prohibit our writers from buying/selling any of the stocks we cover at least seven days before or after we add/remove them from our model portfolios. By incorporating these and other policies into our way of doing business, we ensure that our subscribers' interests come first.

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What is Half-Priced Stocks?

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The mission of Half-Priced Stocks is to help our readers identify securities that are trading at steep discounts to their intrinsic net worth.  In some cases this discount can reach up to 50% or more, giving savvy value investors the chance to purchase quality stocks for just pennies on the dollar.

We think it's important to stress just how much content and value is included with a subscription to our Half-Priced Stocks newsletter.  It's more than just a newsletter -- it's a comprehensive investing service aimed at helping you make the most informed decisions for your portfolio.

Here's what you'll get for the low price of just $48.00 . . .

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A Full Year of our Half-Priced Stocks Newsletter -- Each monthly issue is loaded with fresh new value investing ideas as well as continued guidance on stocks we've profiled in previous issues. We also include feature articles, in-depth industry profiles, and a variety of other material designed to help you become a better investor and to steer you toward today's leading value stocks.

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Mid-Month Updates -- In the middle of each month we'll summarize the market's recent activity and will tell you in plain, simple English how it affects your value investments. We will not only tell you how to protect your capital, but we'll also uncover some great new undervalued opportunities that could help you generate above-average returns in today's market environment.

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Undervalued Stock of the Month -- Each month our research staff will bring you an in-depth profile of one of the most deeply discounted securities on the market.

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"Discount to Fair Value" List -- In each issue we'll offer up a detailed list of ten securities that are trading at some of the steepest discounts to our estimated fair value. Many of our readers use this list to time their entry points to take full advantage of these bargain prices.

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Subscribers-Only Web Site Content -- Your subscription comes with complete access to all of our Half-Priced Stocks web site content, including easy access to current and past issues, news flashes, portfolios, and a host of valuable educational materials.

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Model Portfolios -- You'll also have access to two model portfolios that are chock full of dozens of value-oriented investing ideas . . .

Our "Deep Discount Portfolio" tracks the performance of some of the most undervalued stocks on the market today. In order to be considered for inclusion in this portfolio, a security must be trading at a sizeable discount of 25% (or more) below its fair value.

Our "Value/Growth Portfolio" consists of faster-growing stocks that are trading at a sizable discount to their projected future earnings. Thanks to their tremendous growth rates and soaring earnings, these stocks should move sharply higher in the coming months and years. As a result, they represent solid bargains at today's prices.

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In-Depth Research Reports -- Subscribe today and we'll send you up to SIX in-depth value investing reports at no extra charge (see below).

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An Unconditional 30-Day Full Refund Guarantee -- You can cancel your subscription at any time by clicking on the easy unsubscribe link we provide at the bottom of every newsletter we send you. Take 30 days to test our Half-Priced Stocks newsletter out. If you decide to cancel anytime within those first 30 days, then we'll return your entire subscription fee -- every single cent. You'll also get to keep all of our in-depth research reports as a special thank-you gift just for trying out the newsletter. You truly have nothing to lose.

 

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Register Now and Receive up to SIX In-Depth Research Reports as Our Special Gift...

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Investing Like Buffett Warren Buffett remains the most successful and widely recognized value investor in modern stock market history. And for good reason. Buffett has produced average annualized gains of +22% over the course of the last 40 years -- more than double the return delivered by the S&P 500. In this report you'll learn the investing secrets and individual stocks that Buffett has used to amass his $40 billion fortune. You'll also find out where he's investing his money right now. Value Investing Secrets Value investing has proven its mettle as the most effective investment style over the long haul. In this report we'll bring you a closer look at three of our favorite value investing techniques. In addition, we'll introduce you to a handful of undervalued stocks we've recently discovered using each of these time-tested strategies. The Value Road to Wealth Hot momentum and growth stocks may come and go, but over the long run value consistently wins out. In this report you'll discover a number of tools you can use to identify winning value stocks. In addition, we'll introduce you to several high-quality value plays that should outperform the broader market in the years ahead. Small-Cap Value Stocks Small-cap value stocks have climbed at a healthy +12.1% annual clip over the past eight decades. Yet during the same time period, the stock market as a whole has risen an average of just +6.7% annually. In this report we'll profile several standout small-cap companies that are well on their way to becoming the blue-chips of tomorrow. How Eddie Lampert Made $10 Billion Back in 1988, Eddie Lampert left a high-ranking job at Goldman Sachs to begin his own hedge fund. What started with a modest sum of $28 million has quickly turned into one of the largest funds on the planet, with total assets of over $10 billion. In this report you'll learn how Eddie Lampert used a value-oriented approach to deliver average annual gains of +29% for his investors. You'll also find out how to go along for the ride by investing in some of the same stocks Lampert is purchasing right now. Economic Moats While some companies succumb to competition and fade away, others manage to fend off their rivals and deliver impressive returns year after year. In many cases, the only thing separating the winners from the losers is an "economic moat." Just as medieval moats helped protect castles against marauding pillagers, the economic moats of today help companies defend against the encroachments of competitors. In this report, we'll discuss seven distinct types of economic moats, and we'll profile two successful companies that have exploited their moats to generate market-thumping gains for shareholders.

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Examine Half-Priced Stocks at Our Lowest Rate Ever . . . and with ZERO Risk

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Because we're so sure that once you examine just one issue of Half-Priced Stocks you'll become a subscriber for the long haul, we invite you to try this newsletter for only $48.00 for a one-year subscription. That represents a discount of $250 -- more than 80% off our regular rate! That's less than $50 for information that could help you generate thousands of dollars in annual returns!

Subscribe for two years and you'll save even more. Act today and you can register for a two-year subscription to Half-Priced Stocks for just $96.00 -- a total savings of $500 off our regular rate!

Your satisfaction is fully guaranteed.  If you are not completely satisfied, simply alert us within the first 30 days for a complete, no-questions-asked refund.  After 30 days you will receive a pro-rated refund for the remaining months of your subscription. You have nothing to lose and you can cancel at any time.

Best of all, your subscription comes with absolutely zero risk. You can cancel at any time by clicking on the easy unsubscribe link we provide at the bottom of every single issue we send you. Take 30 days to test the newsletter out.  If you decide to cancel anytime within those first 30 days, then we'll return your entire subscription fee -- every single cent. You'll also get to keep all of our in-depth research reports as a special thank-you gift just for trying out the newsletter.

In addition, even if you decide to keep your subscription beyond those first 30 days, we'll still eliminate your risk. Cancel anytime after the first 30 days and we'll provide you with a pro-rated refund for the entire unused portion of your subscription. You truly have nothing to lose.

Best of all, by visiting the link below, you can now subscribe to Half-Priced Stocks at an 80% discount -- just $48.00 for a full year of value-investing advice and ideas.

So, register now to receive the information you need to take your portfolio to the next level in the months and years ahead. Click the button below to gain access to our current "Undervalued Stock of the Month," a full year of Half-Priced Stocks, access to members-only web site content and model portfolios, plus up to SIX in-depth research reports.

Best wishes for value investing success!




Paul Tracy
Chief Investment Strategist
StreetAuthority.com
839-K Quince Orchard Blvd. 
Gaithersburg, MD 20878-1614
(301) 216-2005

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