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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (4435)	7/15/1998 11:44:00 PM
From: Paul Senior	Read Replies (1) of 78717

FWIW: adding a little to my position in UNMG at under $4. Posted on it once before. Somebody said they actually followed me into it (Foolish person! -g-) Initial reason for my purchase ($4) was that new management team bought control from Pres. for $5/sh. I figured that surely, management thought the stock could sell for $6 in a few years (giving me 2 points on my $4). (Of course -g-, the offset is that the Pres. didn't think so... he was probably happy to sell at $5.) Recently, there's been an investment management firm come in and give a capital infusion: they've bought 1M sh. at $4.5/sh -- which is about equal to book value/sh. Furthermore, sales for this last quarter have gone up 25%. I don't pretend to know the ramifications of what's happening here -- they are a Mexican company and in the fruit juice business which might seriously be affected by El Nino weather, competitors, etc. But if I can buy below book, below what the controlling owners paid, below what I assume at least a couple analysts from the investment firm thought was a good $4.5M buy... well then, I'm going to buy. FWIW.

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