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Non-Tech : Wal-Mart
WMT 103.20+0.7%12:16 PM EST
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To: Leo Francis who wrote (78)7/10/1997 1:39:00 PM
From: Jack L. Dlugach   of 1166
 
Don't miss the point, though, that 11+ per cent of WMT's huge cash
flow is pretty massive money we're talking about here; in time, this
stock is certainly going to grow into this apparent high p/e--it just
depends on whether the WMT investors are mostly looking for a quick
buck or have the patience of the long term investor.

Whatever happens, though, WMT is certainly one of the safest and most
conservative stocks for a long term holding--I think we can agree on
that much?

The only competitor domestically is KM and they're pretty much out
of the picture--treading water is about all they'll do and I think
that's because KM's management isn't capable of much more than that.

Foreign markets, though, have some formidable competition, especially
that French outfit that's so big in South America--there again, the
management is what will make or break these companies and I think that
nobody in retail has the strengths of WMT's management from the top on
down--that's just my opinion from my dealings with this and other
companies. If I ever have a question or problem for WMT, it's always
taken care of on a personal level and in pretty good time--that's a
huge feat for an organization this big.

Compare that to KM or even worse to BBY and that's easily seen--I'd
say WMT is the customer service king of the discount sector just as
Nordstom is for the upscale stores.

Time will tell who's right--won't be long.

:)
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