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Strategies & Market Trends : Value Investing

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To: Seeker of Truth who wrote (15184)	8/14/2002 9:55:06 PM
From: Paul Senior	Read Replies (2) of 78567

Here's an example of what I'd call a value stock that has lousy ROE numbers: IAL. finance.yahoo.com Not much revenue growth: quicken.com ROE stinks: quicken.com Tangible book value (approx. $27 per S&P) has been increasing, but at a very slow rate. There's a $1.20/sh annual dividend. It's not been cut for at least the last ten years (as far back as S&P reports.). But it doesn't look like it's been covered by earnings for the past couple of years. There's no long-term debt! Selling for about $18/sh and with a bv of $27, could this then be a stock that might draw the interest of Mr. Sanjay Bakshi as one of his "debt capacity bargains"? This plodder company's lowest annual high value since '92 has been $23.56 (and that was in '00). In other words there's been no year since 1992 that the stock didn't trade at least as high as $23.55. (Of course that doesn't mean the future will repeat in '02, or '03, or ever.) I notice a couple of value funds are owners: FPA Capital, and Al Frank Fund. ----- I've put the stock on my watch list. I want to see if I can buy it a bit closer to its lows.

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