Brendan Watt, Grommit, others? Nice call on YUM. You're joined by Mr. Buffett now (as you may know), who's taken a 1% position.
I looked at YUM about every time it's been discussed here and could not see the value and passed on it. And I still don't see the value one more time. Guess it's size (clout) of company and low price/ebitda or enterprise value stuff?? Lot of inside buying though since June '99, from 50 down to 28 range. (Stock is now about 33-34.)
More sorry I missed Darden (DRI). I am more comfortable with their restaurants (Olive Garden) and historical performance than I am with YUM (which is inexplicable to me). (aside: not that being comfortable with a restaurant is in any way, imo, a determinant of investment success with the parent's stock.) DRI I have been monitoring and just watching it move away from me. And today also ILFO (Il Forniao), which I've been watching closely for an opportunity to reenter, has just popped today on a buyout offer. Nuts!
Another miss has been CAKE (Cheesecake Factory) which I shoulda/coulda/dint buy a couple of times when it's been under 20. I'm still monitoring DAB --on that one I took losses in '99, and based on their past surprise earnings misses, I'm not so sure I'm willing to reenter. Meanwhile, I hold APPB (Applebee's) and BOBE (Bob Evans), both of which I've been taking profits on as they've moved up since posts on them here. I also have a small position in Landry's (LNY).
Paul S.
-g- who tries to avoid being a customer of any of the restaurants of any chain (except maybe Cheesecake Factory or Houston's once in a while) |
