Oct 2 transcript 4 Stars Nymph's Take: They are saying everyone is hoarding the stuff for their 2 days a years use.BTW good cc to understand your Ferts. CEO Prokopanko- Facing Historic Event in Financial and Commodity. Qtr Earnings up 4 times yoy higher. Dealing with higher cost with Sulfur and Amnomia Cost plus Canada up taxes. Net Earnings 1.2B or 2.65 eps dilluted. Potash still selling. HAD .18 in Mark to Market derivatives UNREALIZED loss they had to take. Phosphate had lower price and increase RAW COST. DAP was 1,013 per ton (lower then guidance) will be cutting production by 500,000-1M ton. 2nd half of Fiscal Year should be better demand. Record Crop this year but demand is still there and next yr needs to be record too. Battle Royale for land Corn v Soy. Phosphate...DAP and MAP recent decline in Sulfur and Ammonia price will impact Phosphate prices. A lot of Phosphate people bought LAST YEAR and using this year...2009 more normal. Brazil and USA did this. June and Aug down 24%. 60-90 days to digest the drop in prices of Ammon and Sulfur plus Excess Inventory. THREE THINGS TO LOOK AT 1. Grain and Oilseed Prices 2 Raw Cost 3 China export policy for a cue on Phosphate Market. Potash k20..Market Tight. Record Demand..Modest for Rest of year. 6% 2009. CHINA down 35% due to delays setting contracts. USA flat, China hoping up. Sulfur 400 ton cheap, 200 super cheap. Jan- March 09 DAP price FOB plant 1,010-1,080 metric ton. Potash still as fast as they can make it they sell it. Liquidatity is King-focused on Building Cash..(but Cap X double 1.1B this Fiscal Year..HUH??) Credit for Farmers $$ from crops. K2O is used for Food Perservatives etc. China has to come back to buy. REMEMBER FARMERS USE THE PRODUCT ONLY 2 DAYS A YEAR!! Either Spring Application or Fall Application. Yet, Mines working 24/7/365. 2006 had the same issue USA inventory up..China and India protracted nego Corn 93M acres Corn. 2007 Great. LOOK FOR CHINA TARIFF!!

Oct 7 Transcript 2 stars and ????? Nymph's take: I am lost, I have been waiting for someone to do a really good analysis on this puppy cuz I can't get my arms around it. CEO Lewis-These are Turbulent Times for the Banking Industry which is leading to CONSOLIDATION with less then a handful of banks on top...fewer in the middle and thousands that are small. BAC has 30% of all deposits in the USA..Rest of the Year is still Turbulant. But good news they are getting their Tier 1 Capital level to 8% but they are cutting the divident and issue new shares. Bad Things that happened to them...1. Losses from FRE and Fannie 320M 2. Support of Columbia Cash Fund 650M 3. the Market 4 Neg Marks on certain Balance Sheet positions 5. Losses related to their auction rate. Calif and Florida 42% off market, 62% of the losses.. Bank Accounts up 44% 1.8M, Country Wide plus 259M in net income. -242M Revenues v 1.2B qoq. 1.8B disruption charges CDO related write down and other areas. CMBS (Commercial Morg Backed Securities) 8.2B....7.5 was funded...-752M super senior CDO Net subprime 2.9B expose 4.3 B...take away, more people are putting money into banks and BAC has a lot of credit issues to work out.

Have Notes From Seeking Alpha Byron Pope - Tudor Pickering & Co. Sec. I wanted to get your thoughts. You talked about based on your customer feedback $60 to $70 per barrel being the pain threshold if you will. As we look at some of these plays domestically, you mentioned the Bakken and you mentioned West Texas and California for the heavier oil, are those the three primary reasons we should be looking at from a rig count point of view in terms of thinking about when we might start to see some softness in the oil directed rig count as it relates to demand for pump jacks for you guys? John F. Glick Yes, I think so. Those are the areas we’re clearly watching. Mid-Continent is another area we’re fairly busy in but if you look at Permian and you look at California and you look at the Bakken, so far as our domestic US business goes those are the areas. Barnett Shale we’re seeing some business pick up there recently and Haynesville we’re all kind of holding our breath to see what happens there as oil prices weaken a little bit

12/3/08 Transcript 3 stars Nymph's take: Not one analyst asked them about the Almond Crop CEO Mendes; They Ran a lot of commercials, had walnuts delayed and bought pop secret. Snack Portfolio grew 96% by the addition of Pop Secret. They are bringing Cocoa Roasted Almonds and Sea Salt Cashews to Club stores. They own Fisher Peanuts and they are building Ovens in the south to cut down the cost of shipping them to california to be processed. The CEO has a lot of dreams about expanding in the stores. YET not one analyst got to the heart of this company...next year is dependent on the Almond Harvest...and yet not one question...oh well.

12/8/08 Transcript 2.5 stars Nymph's Take..Oh Santa I promise to be a good boy..please bring me a higher stock price. CEO McClendon 11 Analysts..UPDATE CALL...On this Call McClendon gives us his top ten list of why we should buy his stock. Also, keep an eye out on Legislation by Waxman going after Frac Wells..fyi..here is the list. 1. We have Money...1.5B in Cash. 2. We are going to sell stuff and get more money. 3. If we can't sell stuff, we can live within our means 4. You better believe I am telling you the truth. 5. 76% of our gas is hedged for a good price in 2009 and 50% is hedged in 2010. 6. We don't have any senior debt for at least 5 years 7.We are going to be good and not issue more stock for cash or use shelfing. 8. WE CUT CAP X 60% the last two months so we are not Druken Sailors. 9. Hey it was all the new guys that were overdrilling this past year causing the price to drop. 10. Our Stock is way cheap at 12 cuz of our cash flow per share...plus we are just a great company...so it's just not fair... ok this is my paraphasing but this is about all that come from it...and yeah, he did number the reasons and counted them down. Take away...ALL CAP X Service names are in trouble.

Stole this...Additional Research- Q2 2009 J. M. Smucker Company Earnings Conference Call Notes Financial Notables- 1.19% sales growth, was broad based 2. every business area up from last year, pricing contributed to much of the increase, but volume game was there 3. EBITA up 12% , with fewer shares outstanding 4. good back to school period, fall period was strong for us 5. well positioned to meet the needs of consumers 6. holiday coupons sent out to consumers are working out well 6. special market segment- Canadian growth contributed to this section 7. portion control position is experiencing stress, beverage business exhibited good top line growth 8. in summary we delivered a strong quarter, relief in the commodity market has been helping us 9. Pricing accounting for 12%, acquisitions were 5%, -1 % Foreign Currency, and 3% organic growth exposure 10. 12% EPS growth, pricing action helped offset higher cost 11. Acquisitions in Canada, increase in volume have attributed to gross profit increase 12. gross profit is lower, and as is gross margin due to commodity hedging activities 13. Marketing expense increased 26%, and we expect advertising to increase more than sales growth still for cristco brand Fundamental Notables- 1. foldgers is an excellent fit to market new brands to north america 2. with the addition of foldgers we are a leader in 9 out of 13 categories in the U.S 3. 75% of sales from the number 1 categorizes 4. we are still concentrating on the consumer 5. recent data indicates that meals per day is treading upward in this environment 6. all brands experienced volume gains 7. fully promoting JIF 8. JIF is performing well once again 9. people exhibiting a preference of comfort brands, pilsberry experiences volume growth 10. SGA will increase with addition of foldgers but will decrease as a percentage of sales 11. baking area has led y o y increase 12. oils and baking area have increased 26% year over year 13. Carnation business acquisitions big deal for the company 14. Beverage business sales exhibited 14% increase 15. Export sales in Latin America contributed very little to sales, about 1-2% 16. interest expenses have decreased, weighted average shares decrased as well 17. tax rate is in line with our expectations 18. outlook , momentum remains strong 19. higher sales and margins expected 20. raw material costs are up y o y 21. certain commodity costs have declined, and we expect to enjoy these costs in the next quarters 22. weakening canadian dollar to impact sales 23. increased in overall debt is 750 million, and the interest rate on this debt to be higher than expected 24. purchase accounting will result in higher cost of sales 25. dunkin donuts has been a big winner in the coffee category 26. the entire foldgers team has enjoyed full integration into smuckers 27. we strongly believe we are weathering the economic storm 28. to continue to perform in this time, means we must adjust to the needs to the consumer, and taking measured risk while maintaing a strong balance sheet. Q and A (part)- 1. mark to market expsnes, smuckers is using hedging to soften costs 2. soybean oil and wheat have experienced decline, we need to write down the impact and write down these expenses 3. we took the negative charge, but we expect it to reverse forward, because of being able to deliver and store 4. the cost will change as cost of goods quarter over quarter 5. Private label is growing but #1 brand is still showing strong results..the #3,#4 are private label brands 6. were in pancake brand, mashed patatoes, penut butter- but huge growth 26%, so room for both to grow Kabirm's Thoughts: Your seeing a strong company here. Dominance across the board in 9 out of 13 food categories. Consistent dividend growth even though it drives up their cost of equity. Your also seeing a negative in the Cristco brand section. Advertising costs continue to increase more than sales as a percentage. Bad news for short term segment margin, and overall margin for the company. Additionally you are seeing a rise to comfort foods such as pilsbury, and jif which i think should continue. Im troubled by the large hedging loss, but its just a number, not solidified yet. But that tells me that management was not ready for this 180 we've had in the commodity market. I see excellent growth opportunities for the company which should drive sales growth. Im also happy to see that smuckers exhibits such great pricing power as exhibited by the break of its 19% growth that has occurred. I suspect that organic growth, and growth from the merger will drive short term growth, as pricing growth will decrease as commodity costs come down. Long term though the company is a great investment as I believe that private label or (#3 and #4 brand dominance is far from feasible). Additionally it should be noted that the company has a high probability of increasing dividend, at an especially a larger rate. This material increase in the dividend, and its growth will tend to drive cost of equity up. So i warn that the stock price will rise, but not as much as you would expect. So your dividend will prove to be large. Rating: Buy (but wait for your pullback as i think +50$ for this guy is a hard reach at the moment)