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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (9102)	12/2/1999 5:10:00 PM
From: Paul Senior	Read Replies (1) of 78717

FMO. I'm liking the oem auto parts suppliers (that I mentioned in a prior post)even better as prices come down to new multi-year lows. I've initiated a small position in Federal Mogul. Selling at a pe under 5 (based on this year's est. earnings), with a psr of .28. That's a low psr for the company. FMO has powered increased sales by acquisitions (the industry is consolidating), which means debt has soared. Perhaps a concern to investors. The stock, at little under 20 today, goes for about 70% of book value. But book would include lots of goodwill from the acquisitions. Worth starting a small position for me on my expectation of a 50% stock price improvement within 18 months.

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