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Strategies & Market Trends : Value Investing
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To: JSB who wrote (39057)9/1/2010 5:35:12 PM
From: Paul Senior  Read Replies (1) of 78740
 
GAI. Looking at it briefly, company doesn't seem worried about collecting receivables --- allowance for doubtful accounts is small. Maybe too small; I don't know.

Company is not a Ben Graham net-net.

$85M in current assets - $33M of total lia - 12M in contingent = $40M.
2/3 of $40M/3.2M sh = $8.4 per share. For me, it's close enough with the stock price @8.75 now to where I'll start adding shares again. Other people perhaps should continue waiting for a better (lower) price. (Or just avoid this cigar-butt completely -g-)

I've not looked at the income statement.
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