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Non-Tech : Wal-Mart
WMT 109.10+2.0%3:59 PM EST
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To: Leo Francis who wrote (43)7/1/1997 7:25:00 PM
From: Jack L. Dlugach   of 1166
 
Leo: That's for sure regarding retail stocks--they tend to lose
their luster pretty quickly. I've done alright with them but I've
been fortunate enough to unload them before they dumped in the past--
I bought KM on speculation as well as BWY which converted to FD and
also Nordstroms--made good money on all of them.

Best Buy is a loser, IMO, and is going to go the way of some of the
stores that tried to compete with Home Depot without giving the same
level of service and pricing. Shopping at Best Buy is, to me, a real
nightmare and I can't see why anybody would buy that stock in light
of the losses from the last few quarters.

On Mr. Glass, I disagree with you--I've spoken with him and received
personal correspondence from him and I have a very good impression
of him as a manager. I really do believe than Wal-Mart's growth is
not over--I very much agree with you that WMT stock will probably
correct at some time but I only say that it's difficult to short this
stock and time its correction because it is currently perceived as
a so-called "safe haven" stock along with the biggest and bluest of
the Blue Chips.

Of course, I am not an options trader and don't even try to guess what
the market is going to do; I've been getting into more cash lately as
I do find stocks getting too pricey==they are bound to correct at some
time as they always do.

As a long term holding, though, I do think WMT is a pretty safe bet
to at least outperform a money market or bank account, that's all; I
don't expect it to make me rich but I don't expect I'll ever lose my
investment.
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