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Strategies & Market Trends : Value Investing

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To: Investor2 who wrote (8152)	9/7/1999 9:41:00 PM
From: Paul Senior	Read Replies (2) of 78822

I2: re: NWL. Newell Rubbermaid is a powerful company. At some point institutions will want to own more of the stock. Hard for me to see it now as a value stock though. If earnings are dropping, say to $2.10 and it sells at 16-17x like it has in a couple of past years, then I call it fair valued now. If, on the other hand, it sells for 18-19x like it also has averaged in a couple of past years, there's a good chance for some appreciation. (Stock moves from 32 today to say maybe a 'reasonable' 36-38 average with some chance for retest of 40-50 levels.) I defer to others who can evaluate this thing properly. I see it selling now for psr midway (1.8) in the yearly range it's seen over the past several years (1.6 to 2.1 eyeballed). Given NWL is a large consumer company selling a variety of many small $ items, maybe psr does provide some clue as to what fair value might be. If so, I don't see a bargain right now. (Athough of course, I've been wrong many, many times.) Anybody else with an opinion on NWL?

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