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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (2875)	12/23/1997 10:04:00 PM
From: Paul Senior	Read Replies (1) of 78665

Well there's a sucker born every minute -g-. And they live a long time too -gg-. Turns out sometimes they need maintenance and corrosion protection. Therefore we come to ICOC. Another in the oil bidness. Sucker rods and such. Majority owned by a couple. (Yes- an investor IS at their mercy.) They're consolidators in the industry (if there is such a thing in this niche business), and seem a bit like overly educated wheeler dealers. No matter. They've announced sale of ICOC's other business (plastic grinding), so I think they can focus on the sucker pipe. Company has a ton of cash (which I hope the management can deploy successfully), and pays a dividend. Co has a lot going for it - oh if they only had earnings -g-. Stock has come down to my price - I'm a buyer here. And if it doesn't work out we'll all know who the real sucker was. -g-

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