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Strategies & Market Trends : Value Investing

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To: Brendan W who wrote (4929)	9/1/1998 7:07:00 PM
From: James Clarke	Read Replies (2) of 78507

I looked at Brunswick about three months ago when the price was 22 and just couldn't get comfortable at all. Now its 15. You might have gotten a very good entry price. These are clearly franchise businesses they are in, but what I could not get comfortable with was the following: 1) The antitrust lawsuit in the motorboat engine market 2) I was very disappointed with the disclosure in the public documents. They did not answer any of my questions, so I took this as a signal not even to bother calling management. Maybe I'll pick up the phone tomorrow given the price action since then. You realize this company, or rather this stock, has an infamous history. It was one of the "Nifty Fifty" in 1972, when I guess everybody thought every American would have two bowling alleys in their rec room. The stock lost like 90% of its value in a year and has been seen as a dog ever since. But obviously the stock is not trading the way it did then - I am not arguing that it is dangerous now, just pointing out a historical tidbit. Anything else you found out that I should know, would you e-mail me privately if it is too specific to post. Or maybe others would be interested - this stock does look cheap. Jim

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