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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (19556)	12/16/2005 9:05:11 PM
From: Paul Senior	of 78898

I reentered Scholastic Corp. with a small buy after stock dropped today on an earnings miss. biz.yahoo.com Company has a strong franchise in the school market. Harry Potter benefits may have dissapated, and the company reports other issues. Still if the company's new forecast is to be believed (aside: no real reason this forecast should be believed though, given they just announced they will miss their previous forecast), the company will have a 12.8 p/e at current price. That's a much lower p/e number than any p/e avg the company has sported in the past 10 years (excluding unprofitable 1997). P/sales in line with previous years, and stated book value has increased every year for the past ten years. D/e seems to have increased recently. Stock at a 12 month low today. I've nibbled on just a few shares; I'm operating on the assumption the stock might drop further on today's outlook announcement, and that I might be able to pick up more shares at lower prices.

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