Home Builders Offer Deep Value According To Bertolet Capital President

• On 9:08 am EST, Wednesday November 4, 2009

67 WALL STREET, New York - November 4, 2009 - The Wall Street Transcript has just published its Pharmaceuticals Report offering a timely review of the sector to serious investors and industry executives. This 76 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Small-Cap Specialty Pharma - Patent Expiration - Pending Health Care Reform - Cultivating And Expanding R&D Pipelines - Chinese Drug Manufacturers - Brisk M&A Activity - Indian Pharma VS. U.S. Pharma - Competition From Generics - FDA Approval Process - Clinical Research Outsourcing Market - Stem Cell-Based Technology - Cancer Radiation Therapy - Expansion Into Asian Markets - Traditional Chinese Medicine VS. Western Medicine In Chinese Pharma

Companies include: Aeolus Pharmaceuticals (AOLS.OB); Nutra Pharma (NPHC.OB); Quick-Med Technologies (QMDT.OB); Abbott Labs (ABT); Alexza Pharmaceuticals (ALXA); AmexDrug Corporation (AXRX.OB); Aurobindo Pharma (AUROBINDOP.BO); BioClinica (BIOC); BioPharm Asia (BFAR.OB); Biocon (BIOCON.BO); Cephalon (CEPH); China Sky One Medical, Inc. (CSKI); Claris Lifesciences (CLARICH.BO); Cortex Pharmaceuticals (COR); Daiichi Sankyo (DSKYF.PK); Dr.Reddy's (RDY); Elan (Elan); Eli Lilly (LLY); Forest (FRX); GeoPharma (GORX); Glaxo (GSK); Glenmark (GLENMARK.BO); Johnson & Johnson (JNJ); Lupin (LUPINSL.BO); Mannatech (MTEX); Matrix Laboratories (ATRIXLAB.BO); Medical Nutrition (MDNU); Merck KGaA (MKGAY.PK); Mylan (MYL); NeoStem (NBS); Novartis (NVS); Pfizer (PFE); Piramal Healthcare (PIRAMALHE.BO); Provectus Pharmaceuticals (PVCT.OB); Ranbaxy (RANBAXY.BO); Salix Pharmaceuticals (SLXP); Shire (SHPGY); Telik (TELK); Winston Pharmaceuticals (WPHM.OB).

In the following brief excerpt from just one of the interviews in the 76 page report, a top tier money manager discusses the outlook for the sector and for investors.

JOHN E. DEYSHER is President of Bertolet Capital LLC, advisor to the Pinnacle Value Fund, a diversified, SEC registered mutual fund. He is responsible for the Fund's daily investment activities and has over 25 years' experience in the investment management business. From 1990 until late 2002, Mr. Deysher was a Portfolio Manager and Senior Analyst with Royce & Assoc., an investment firm specializing in the securities of small cap companies. Mr. Deysher began his investment career with Kidder Peabody in 1983 where he managed equity and fixed income portfolios for individuals and small institutions. He holds a Bachelor's degree from the Pennsylvania State University, and Master's degrees from Indiana University, Bloomington (Business) and University of California, Berkeley (Science). He is a Chartered Financial Analyst.

TWST: Any other companies that you feel are representative of your investment style and approach?

Mr. Deysher: We can talk about a few of them since your readers are probably more interested in hearing about what we think is currently attractive. The first is Nobility Homes (NOBH), which is an Ocala, Florida based producer of manufactured homes with a $40 million market cap.

TWST: I have not heard anyone reccomend a housing company in a long time!

Mr. Deysher: It's very interesting, because as you know, housing is in the doldrums and manufactured housing even more so. It's hard to believe, but back in 1998, the U.S. industry as a whole produced about 373,000 units. In 2009 that number will probably be about 50,000 units. That's a decline of 86%. Now, a very smart investor in Omaha owns a company called Clayton Homes which is the largest player in manufactured housing. Clayton has been making acquisitions of smaller players to build out their network. Mr. Buffett appears to see good potential here when the housing market rebounds and we like Nobility because they're well positioned in the market. They sell mostly in Florida, which is a big magnet for retirees who often buy a manufactured home and put it on a chunk of land in a warm climate to retire in. The quality is very good since they must be built to the same codes as conventional site-built homes. As the housing market improves, a lot of buyers who got credit through subprime financing and other methods to buy conventional homes may be shut out of conventional homes since that type of financing is no longer available. Manufactured housing offers a viable alternative to them. Nobility Homes has a very strong balance sheet and is run by a father and son management team, the Trexlers, who're big owners. They're a survivor and should do very well when the cycle turns. The industrial firm we like is called Hardinge Corp (HDNG) and has a market cap of $62 million. Based in Elmira, New York they were founded in 1890. It's been my experience that when a company survives 120 years they are generally doing something right.

The Wall Street Transcript is a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs and research analysts. This 76 page special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online .

The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations.

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