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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (12155)	12/11/2001 3:51:28 PM
From: Paul Senior	Read Replies (1) of 78476

Gambling stocks: I'm starting to take some profits in BYD today, and I'm buying PPE today. PPE is down today imo because the respected CFO has announced he's leaving. PPE is the largest casino operator. Geographically diversified and with a very strong presence in the upscale Las Vegas market. P/e is high, but cash flows seem good to me. Looking back, casino stocks weren't the real play. It was the slot makers and game developers - and their stock performance has been very excellent for those who bought and held or bought on dips. Too bad I wasn't in on the action. However, going forward, I don't know if further excellent stock price performance is warranted for this subsector. Although PPE has problems, as do all casinos, it seems that Las Vegas has a way of re-inventing itself and growing and prospering. I'll bet that LV will recover, and that there's some revision to mean with PPE stock given that its LV properties are a destination for the many LV tourists and gamblers, and that PPE is strongly diversifying into other cities/areas as well. finance.yahoo.com

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