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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (3920)4/27/1998 10:38:00 PM
From: Paul Senior  Read Replies (3) of 78476
 
Re: RTI, TRE, and TIMT.

Yes, TRE DOES look like a pretty good way to play the titanium business. I think there's a better margin of safety perhaps with TRE that you get from valuing all its component parts - and that may be the best way for value investors.
Just that I am more comfortable with this airframe/engine concentration. I figure when Boeing starts to produce, TIMT will get the catalyst for a stock rise. (It will take TRE with it.) I chose TIMT over RTI because, for now, TIMT is the preferred Boeing supplier (from what I can tell). Some people on the TIMT thread have covered their bets and bought both (TIMT an RTI).

My information is that Franklin Resources (Templeton Global Advisors) has increased its position in TIMT in Feb. from 10.7% to 13.2% of stock outstanding. Also in Feb., a Japanese company, Toho Titanium bought 3.7%. (I hope they can hold on and don't have to dump it -g-.) About the same time Smith Barney (Mutual Management) decreased their position in RTI from 9.5% to 5.8%. I am using all this as a justification here for my purchase of TIMT. And weak argument that it is, I am still trying to add to my position. I would've thought I could have got my Sunday night limit order at 24 3/4 filled --it was only a little below Fri.'s close -- on a day like today. But I guess with S. Milburn's purchase order propping the stock, I didn't have a chance. -g-.
Paul Senior
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