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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (13516)1/1/2002 1:49:00 AM
From: James Clarke  Read Replies (2) of 78565
 
<<CBE. I might as well just start out and say CBE has an asbestos exposure somewhere. It's presumably small and manageable. Jim Clarke has said, if I recall, that there is NO small risk -- just forget about such stocks.
Run.
-g-I'll try a small position anyway, keep my eye attuned for company news, and if it's bad, hope there's room for me to escape with the bulk of my dollars intact.>>

Interesting that you bring up something I said generally about asbestos in the context of Cooper. I've got a history with Cooper - very good company. Your post is so ironic because I have a history with Cooper that I've probably never posted on this thread. I nailed the bottom on Cooper in early 2000, lost track of it for a while, bought it again a couple months ago on speculation of a deal coming together, but then sold it the moment I saw they had asbestos exposure. No way Danaher is going to acquire asbestos exposure and expose their whole business to that - they'd have to be nuts.

Best of luck to everybody in 2002 - I am not at all optimistic. And I'm not talking about the general market - last year I saw the general market as dangerous, but I knew I was finding opportunites that would go up. And they did - I'm coming off a very good year. Today I still see the general market as dangerous, but the kind of things I buy look fully valued - a very picked over market without a lot of outliers - those outliers are my game and they're just not there.
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