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Strategies & Market Trends : Value Investing

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From: Paul Senior	10/23/2007 1:16:07 PM
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Adding a little to my few shares of ABK now. I'm guessing stated book value might drop from $59.40 to maybe $55-56 depending on how a 3rd-quarter credit derivative loss of $3.50/sh. is accounted for. Maybe a similar or worse loss in 4th quarter? Who knows. Still, at about 1x book value (stock now $55.74, down $2.38), that's a pretty reasonable buy point imo, considering in past ten years stock has traded about 1.5-2.0x stated book, with book growing most years. finance.yahoo.com

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