Bombay (BBA): Time for a run up? Message Board

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Non-Tech : Bombay (BBA): Time for a run up?

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To: David R. Schaller who wrote (125)	6/18/1998 12:05:00 AM
From: Ed Perry	Read Replies (1) of 202

Yes, I think things are beginning to turn. From the soundings on the Yahoo board, Ms. M. is giving evidence of having some real bite - rumors of high level dismissals to match the inventory clean out. The share buy back is a real nice bone to toss to the shareholders. This is new for Bombay. Rumor has it that the new store layout and product line is very exciting. I've got to check out one for myself. Another bit for cogitation, "The Saavy Investor", a value oriented investment newsletter just gave BBA a glowing recommendation. Saavy likes their earning's improvement, their strong balance sheet and their current trading near book value levels. IMO, "The Saavy Investor" is one of the best presented and researched newsletter for under $10/share securities (tel is 409-291-8004). Almost as good is the Kon Lin Letter (tel 516-744-3096). However, If I had to choose one it would be the Saavy. I think that the recent selloff in part reflects the mechanical actions of fund managers selling at quarter end (window dressing) and in part their response to the unknown of exactly what BBA will pull off. Who knows? The US housing market is super strong and the Asian flu has had a relapse - great combination of demand pull and supply push in the wings. When BBA the stock begins it's move, the spike players (out at the first loss of momentum) may be in for a surprise. I myself, expect to see some positive earnings surprises beginning in about 2 to 5 months out. The upcoming holiday season has the potential to be a whopper. Meanwhile, the downside risk is between zero and zero plus while, with patience and patience and more patience this looks like a long term percentage winner. Ed Perry

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