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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (71483)	10/31/2022 7:56:09 PM
From: E_K_S	Read Replies (1) of 78673

I just do not get ACI. They have been bought out and/or restructured over 3x that I can remember. The largest benefit was their last big asset sale that UNFI acquired. UNFI picked up the North Central warehouse assets and on the cheap too. I still own a lot of UNFI at/below $10/share when they picked up those assets (stock was hammered) but over the next 18 months have really done well building out their distribution center. It was expensive but got really good assets for about $0.60 on the dollar to ABS detriment. My takeaway, is management can spend money easy, take on a lot of debt and get lousy results. The winners are when management can buy needed assets on the cheap and/or sell valuable assets for a significant gain (ie CIO sale in 2021 of their Bio-Tech properties). It all comes back to a good knowledgeable management team that can execute their plan. Results matter!

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