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Strategies & Market Trends : Value Investing

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To: Bob Rudd who wrote (11480)	11/28/2000 12:19:00 AM
From: James Clarke	Read Replies (2) of 78600

<<USG: I managed to snatch defeat from the very jaws of victory on this one by closing out half my USG position 30 minutes before Buffett news hit the wires.>> That is just painful to read. It tells you that at least in the short run luck is a part of this game. But you're right about the way the news came out. When I heard about it I would have had a good deal of time to buy before the stock really popped, but since it was up a point I figured that was it. Should this make investors reevaluated asbestos stocks? It is very hard to find one though where asbestos is the only problem. ACK probably files regardless due to the debt maturity. Likewise FMO looks shaky asbestos or no asbestos. CCK too. Could we be looking here at a major secular peak in the power of trial attorneys? Buffett has just bought two "liability stocks" Benjamin Moore and USG, just as the news is filled with a story that just seems beyond absurd - trial lawyers attempting to decide a presidential election. And it looks as if they are going to fail. Tobaccos and HMOs have already rallied quite a bit, but can anybody think of another creative play on this?

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