Grommit: some comments on Albertson's. (ABS)
I'm having trouble getting near the bottom on ABS too. My position is small; would've liked to increase it substantially, but didn't buy enough when I had a chance. I see where the famous Bill Miller has now come out saying he has a position. That seems correlated with the recent sharp increase of ABS up from its lows.
You said, "it will withstand any downturn". If you mean it won't drop in a market downturn, you are wrong (imo -g-). If you mean that it will come back up within or after a market downturn, then I agree.
I believe that Albertson's is a Buffett stock (more so almost than a value stock.) Because, being the number 2 grocery chain, and with its very good historical performance, I can envision the company being around and surviving 10-15 years hence. I so posted on the Buffett thread, but I don't believe anybody agreed with me or that they swung for that pitch. Which seems to be true for my other Buffett suggestions also. Nevertheless, for me, I will try to hold for 5 years to see what happens. If I am correct that it's a Bill Miller run we are seeing now, then I will have a chance to add more, perhaps under 34, as buying abates.
Paul Senior |
