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Strategies & Market Trends : Value Investing

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To: Allen Furlan who wrote (7725)	7/12/1999 3:57:00 PM
From: jeffbas	Read Replies (3) of 78457

Thanks, Allen, but don't forget that it still has the artificial selling from institutional holders of GENZ that got the GZSP dividend and could not keep it. I have a buying strategy slightly different than yours -- add to an initial position bought at whatever price over time, but only under $4. I want that extra margin of protection that I think that price gives. At this price level I could see an outside buyer going to GENZ and offering $9, and buying the business for its cash. However, this is not an independent company and GENZ would certainly not accept (as they surely do not think the $100 million sales surgical products business is worthless, even if the Seprafilm and biotherapeutics business is of questionable value) -- which I guess has positive longer term implications for us at $4. Incidentally, thread, GZSP now meets our thread's 3 actual buyer test for the Value Investing Thread Gold Seal of Approval, with Peter, Allen and myself.

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