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Strategies & Market Trends : Value Investing

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To: Robert Hoefer who wrote (15398)	9/8/2002 9:08:46 AM
From: 249443	Read Replies (1) of 78667

Regarding Fleming: "...I'm not letting the amateur short sellers scare me out of this one. Be brave, own Fleming!..." Longleaf management repeatedly has stated that the Kmart issue is already (pre 9/6/02) reflected in the stock price. The 9/6/02 WSJ Front Page paints a very ugly picture about Fleming the company. Customers are leaving due to management business practices. It appears to me that the short-sellers -- and net sellers -- were quite competent in selling Fleming. I am definately not brave -- rather cautious -- in my stock selections. The WSJ article is a must read for Fleming shareholders. FROM THE WSJ ARCHIVES: September 5, 2002; PAGE ONE Fleming Takes Hefty Deductions From Grocery Suppliers' Bills "...Fleming's vendors complain that the grocery distributor is taking what they say are exaggerated deductions from their bills, spotlighting the tug-of-war that goes on in the low-margin businesses of manufacturing, distributing and selling grocery products to independent supermarkets..."

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