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Non-Tech : Claire's Stores (CLE) NYSE
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To: Archie Bunker who wrote (37)11/27/1996 10:55:00 AM
From: Gus Yeung   of 619
 
Boy, this babay really tests everyone's guts.
Maybe we should step aside and pretends we are the owner for a second;
the company is making good profit, the customer base is growing, we have a lot of cash in the bank and no debt, the best ever quarter may be just 2 months away, no direct competitor (at least no one is as strong as our company) and even the economy is better than expected. If I am the owner, do I care about the current stock price? Of course I care but that doesn't mean I will sell at this level, would you sell your brand new BMW for half of what you paid for. No, because you know you can get a better price and remember CLE is turning record profit and the BMW is just taking up space.

This is the time to find out if we are the REAL long term investor or just paying lip service.

I do think this stock will drop more before the end of the year because of tax reason but I fully expect it to recover (at least
some what) after the 1/1/97.

Go ahead and say I am stupid but I still think this stock's fair value
is $26-$29 by this time next year. Would I buy more now? No. Would I buy more in a month? Maybe. Would I sell any time soon? No, unless there are some really bad news coming out.

If we can not take risk, if we can not trust our own research (research != instinct), we should not even play the market.
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