Paul,
thanks for the post on your holdings.
I'm still holding the BBY I purchased a while back and can
easily see a long term hold here barring significant change
in the business. After talking to several friends at work
who are into consumer tech oriented "stuff" - they all
love BBY and see them as _the_ player in that area. Circuit
City is liked also BTW.
I was amazed at some of the new tech on display now after
visiting Best Buy a few weeks ago.
I'm sortof a technology cheapo - still have an early 90s
VCR, early 80s cassette deck, and an old TV - but the new
"stuff" is tempting. I have to stay away or I'm sure to
spend my $ there.
All the new video game machines, the extremely high quality
video on the wide screen TVs, DVD players at incredible
price points etc. I'm aware other retailers such as Wal-
Mart or CompUSA can move into this area, but Best Buy seems
to be the destination when my friends are shopping for
consumer tech.
Anyhow, that's my thought there and obviously I feel the
stock is undervalued currently. I'm comfortable w/ a fair
value on the stock of mid to high 30s.
I haven't made a move on ANF yet. The recent poor report
caused me to hesitate, and clothing retailers in general
seem to be having issues. Several I'm watching such as
American Eagle, ANF, Chico FAS, Limited and others seem to be
suffering from poor comparables. Looks like a market glut
in apparel to me. Waiting for a pullback after christmas
Shane |
