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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (20526)	2/2/2005 11:23:59 AM
From: Paul Senior	Read Replies (1) of 78670

From the new-lows list, I'll take a tiny exploratory position in Sirva, a global relocation company. SIR's fallen off a cliff: finance.yahoo.com Problems with Sarbanes-Oxley perhaps, and the company found some accounting errors. Still, with over 7000 employees, the company remains (I assume) a force in the relocation business. With our USA government continuing to move people all over the world, there still should be business for SIR, and maybe better profits, if SIR can resolve apparent regulation and accounting errors($21M-25M "errror"!) P/sales seems reasonable. P/stated book is 1.25 per Yahoo. And ROE was 13.5%. I'd prefer to see better metrics, but at current price under $8, I'll nibble on a few shares. .

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