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Strategies & Market Trends : Value Investing

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To: Bob Rudd who wrote (12711)	6/29/2001 11:51:47 PM
From: jhelmers	Read Replies (1) of 78533

Bob- I am a lot less favorably inclined to CCK now. as a result of the asbestos scare this last winter and the subsequent downgrades, there cost of funding has gone way up. plus the performance of their business operations have not bounced back as quickly as I hoped. it is not clear at this point if their funds from operations are going to be sufficient to cover interest costs for an extended period of time. I still own some but would probably sell the rest back in the $5 range. of course if they do pull out of this, the upside is quite significant. I have also exited out of the OI I bought in December. I do own USG (from higher prices) and would buy more starting at three scale down. Despite the bankruptcy, I think this offers significant value to current equity holders on the reorg. hope this helps jhelmers

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