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Strategies & Market Trends : Value Investing
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To: Area51 who wrote (36250)12/20/2009 12:06:03 AM
From: Paul Senior  Read Replies (2) of 78774
 
Still looking to buy a USA homebuilder, Area51.

I'm out of AVTR with a small loss (Oct sale). Depending on how somebody looks at the Ben Graham net-nets, this one may or may not qualify: From Yahoo I get $220M in cash/cash equiv., 24M in acct. rec., and inventory of $287M vs total lia. of $156M, all on 11.35M shares outstanding. (531-156) = 375.
$375/11.35 = $33.
2/3 of that is $22. Vs. stock price of $15+.

I don't like the inventory amounts, the fact the company is or has been losing $M, and that they are in two small areas (part of Florida, and at a place near Tucson).
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