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Strategies & Market Trends : Buffettology

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To: James Clarke who wrote (2424)	4/9/2000 4:07:00 PM
From: Shane M	of 4691

Jim, I meant to buy some RAL last week, but had another stock just reporting earnings grabbing my attention. I'm more than likely going to buy in the upcoming week. As to valuation, I don't have a price target. It's just worth quite enough more than 18 or 19 a share to make it worth a buy. The market has consistently priced RAL at 50-100% below what I think it could be valued at based on multiples awarded to similar consumer brand oriented companies, so I'm just planning to buy/hold/wait. This is a good entry, and the company just got better by spinning off the batteries. I don't think they understood how to market those. Duracell had the better operation there. This looks like a Buffet stock to me by the metrics. Competitively this looks like a mature Lynch-type market that doesn't attract many new entrants, and the dominant players will just continue to swallow up the smaller and/or weaker to gain mkt share. Shane

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