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Strategies & Market Trends : Value Investing

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To: James Clarke who wrote (1439)	6/27/1997 8:19:00 PM
From: Jim Garrison	of 78744

James: <WHX a dog? Not if you bought at 5 3/4! > ... <Its trading at about 8 now. It is the ugliest thing you've ever seen, but it has roughly $25 of book value and a large chunk of that is cash and relatively new plant and equipment.> I also think it's a dog, but my AAII Stock Investor shows cash at $8.15 per share. At 5 3/4 it really was a steal. At 8, in theory, you are buying the ongoing business for nothing! Per Peter Lynch approaches, I'd wonder how much of the $25 is really for real (what will it bring in liquidation?) - he writes about Penn Central book being $60 when it went bankrupt - capitalized tunnels that hadn't been used in years. My opinion only. Good Investing, jim garrison

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