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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (4827)	8/27/1998 1:34:00 PM
From: Wright Sullivan	of 78645

I'm in the same boat--don't need to look for fresh value ideas when there's a fire sale on everything I own. But in the spirit of this thread's original mission, here's a specific one I like more than the others: CNSO (Conso Products Corp.) makes tassels and trimmings for fancy furniture and furnishings. -Stock is at $6 today -Good earnings (.22) announced Friday. -Recently purchased Simplicity Patterns Co., a well-known brand name. -Chairman Cary Findlay just took over as Pres./CEO again. -Findlays, both accountants, are very sharp owner/mgrs and own 42% of the company, recently added more. -Sales last 12 mos: $125 million (about half Simplicity, half Conso). -Profits have been hurt by competition last year but appear to be improving again. -Margins have historically been much better in tassels/fringe than for typical textiles, though battered last year, and improving now. It's an obscure stock in a lousy industry, but it looks pretty darn cheap to me, and has good management and future prospects. Perhaps some of the crack number crunchers on this board will have some additional comments. Or maybe it's just marginally interesting with everything else on sale at the same time. Comments?

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