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Politics : Ask Michael Burke

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To: Mike McFarland who wrote (23984)	10/25/1997 10:12:00 AM
From: Kapusta Kid	Read Replies (1) of 132070

MMF, you might want to search this thread for one of Burke's posts on his "thirds" technique. What I have done is continue to load up on a company with a good value scenario. On the Value Investing thread, we came up with WHX: the company was @ $8-9 a share, but had $16/shr in cash and a book value of @ $28-32/shr. The problem was a nasty strike by its union workers over the issue of pension benefits. By the time I had completed my due diligence, WHX was trading <$7, so I took a position. As the shares dropped down to @$5 1/2, I accumulated lots and lots more. There was little to no risk at those prices.

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