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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (11452)11/17/2000 9:58:48 PM
From: jhelmers  Read Replies (3) of 78602
 
Paul- any opinion on the asbestos victims. I own a little CCK which got creamed today catching up with other victims like ACK and USG. From what I understand, CCKs exposure to asbestos is minimal and involves a business they were in 40 years ago. My instincts tell me this is an opportunity. They have a 21% yield. Even with their onerous dividend, heavy debt load and the poor current business conditions they should be cash flow positive this quarter. At some point I would think there must be value. Certainly there has been an up trade in the tobacco stocks this year. I know the technicalities of the asbestos liability are different. The street analysts I have spoken to seem to think that the only way to stop the bankruptcy bandwagon is through legislation.

All comments appreciated.
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