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Non-Tech : SME(svcdq) has it bottomed out yet? Or will it hit bottom?
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To: walt zweifel who wrote (46)6/8/1997 8:04:00 PM
From: christopher   of 305
 
Heres the latest from The Tennessee Investor as it pertains to SME:
"Chairman Raymond Zimmerman bought 100,00 shares in April at $3.00. That was our signal to buy. The last time Zimmerman made an open market purchase of SME was, we believe, in late October of 1987. The stock rose approximately 500% over the next few years. Fundamentals look great, low PE, 3X cash flow and selling below book value. Company closed its western stores to concentrate on the southeast. Approximately 90% of company's profits come from only 8% of floor space. The company wants to make sure that everyone who walks through its doors is a potential jewelery buyer. That's the primary reason the company decided to get out of the computer business last week - "techies" don't buy jewelry. Kitchen aides and exercise equipment will be emphasized. Look for positive results to begin showing by 2nd or 3rd quarter. Both the stock and 9% debentures of 2004 are strongly recommended at current levels"
That's the scoop from Buzz Heidtke this month...
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