Stock bargains starting to show up IMHO

I follow a few stocks and think the recent market softness offers buying opportunity. Let me know what you think.

CLD--Cloud Peak Energy---This is a coal company that operates strictly in the Powder River Basin (PRB). The coal business has been bad for some time and there is little prospect for significant changes in demand for coal. Prices for coal are very low. There is a very good chance several coal companies will fail.

CLD has some competitive advantages. CLD has a strong balance sheet and is profitable. More importantly it has pretty good cash flow even with coal at these historically low prices. They have essentially all of their 2015 coal productions sold at profitable prices and a significant portion of their 2016 production. They have very important rights to use west coast ports to export coal. Both Oregon and Washington are seeking to limit coal production going out of their ports but CLD has access and this access is increasingly hard to get. CLD will benefit from a cost of production standpoint from lower oil prices. They are a surface mining company and it takes a lot of fuel to move the coal just on their property. They are the low cost producer in the PRB.

The opportunity--Even though demand will not increase significantly supply will decrease moving prices upward in late 15-16. Even a small change in price means a huge difference in CLD's income statement. (a dollar a ton equals about $80 million for CLD). Supply will go down as mines are closed.

CLD was hampered in 2014 because of a shortage of rail cars in the PRB.
That supply of cars seems to be correcting and will allow more shipments.

I own this stock and have lost about 20% on it but I still find the story compelling. EV/EBITDA of only 4.79

WRB--W. R. Berkley-- WRB is an insurance company writing primarily property and casualty insurance. They primarily write specialty insurance like officer liability, worker's comp, and reinsurance. They have a combined ratio of 93.5 which indicates they are very good underwriters. The company has over the last 5 and10 years outperformed the S&P 500 and benchmark companies such as XOM in total return. Management is very shareholder friendly and is restricted from sale of their personal stock so long as they are employed. The ROE most recently was 17% and the goal of management is to maintain ROE over 15%. Share return has averaged a little over 12% annually.

The opportunity: This is a good long term investment. The company has profits from premiums and a good record of profits on investments. They have a short term portfolio of bonds that they are required to mark to market for reporting purposes. They will hold these bonds to maturity and will have gains as they recover the mark to market allowances on the sales. A small uptick in interest rates--unlikely it seems in the short term---will significantly add to the profits of the company. Meanwhile the company has diversified it's loss risk and is very focused on shareholder return.

I own this stock and have for some time. EV/EBITDA of only 5.58

NWSA--I haven't the time right now to explain the whole story but the bottom line is this--Fox spun this company off essentially debt free. They are using the strong balance sheet to make media content acquisitions. Although their profits are small they are making good investments that will add to their already strong cash flow. It is a value play in multinational media and needs time to play out.

I own this stock and am about even on the investment. EV/EBITDA 9.85