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Strategies & Market Trends : Value Investing
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To: Brendan W who wrote (13020)9/4/2001 2:38:38 PM
From: Bob Rudd   of 78726
 
OI: Hard to say where the asbestos thing lands...as companies have gone bankrupt, fewer deep pockets are left in the pool and it has been a mistake to underestimate the creativity of plaintiff's attorneys in getting at them. Buffett probably thought that USG's asbestos problems had been discounted in the mid-teens: It's now BK and in the 5's. That said, I may join you in this one but as a tax loss play, later in the year if selling takes it lower. And this would be a trade of 1 or 2 months, not a long term position. Several of these asbestos companies bottomed in mid-November to late Dec time frame last year and rallied explosively into Jan and early Feb/Mar but sagged from there: quote.yahoo.com
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