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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (3507)	3/11/1998 12:07:00 PM
From: Kapusta Kid	Read Replies (1) of 78659

Has anyone in CA visited a HOMEBASE store? The stock (HBI-NYSE) was recently featured in a $10 Store article at theStreet.com. Company has been hurt by direct competition from Home Depot and by a store remodeling project, but same-store sales at remodeled stores are up 10%. HBI, while relying on its basic building-supplies business, attempts to be different from HD by emphasizing its decorating business. Company warned of 9 - 11 cent loss. PSR is just 0.2 on sales of $15B. Long-term debt is just 10% of total capital. Projected 1998 book is $8/shr. Trailing PE = 18, projected 1998 PE = 13. Bob Rodriguez of FPA Capital recently bought 10% of shares and Mike Price of Mutuel Series is in for 11.4%. (BTW, Rodriguez, like Price, also loves COL, but, like Price, would prefer to buy it in the low 20s). Would appreciate comments from those of you who have visited a HOMEBASE store....Pete

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