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Strategies & Market Trends : Buffettology

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To: Jurgis Bekepuris who wrote (686)	12/14/1998 10:32:00 PM
From: James Clarke	Read Replies (3) of 4690

I was just about to post something about a little toy company...I would have been shocked if nobody had beaten me to it. Look guys, if we all made a list of 10 Buffett businesses, I would bet half our lists would have Mattel on it. Jurgis captured the fun though - they made an acquisition today of something that is probably not a Buffett business, they paid in stock, and it is going to be 30% of your economics going forward if you buy Mattel. Everybody says the quarterly preannouncement was the reason the stock went down today by 25%+. I disagree - I think it was significantly due to the acquisition. I just look at my own decision process - if it had just been the quarter and their forecast, it would have been a no-brainer at 24. My dream price was a couple bucks higher than that. But throw in the acquisition and it took some thinking - i.e. a "brainer" - but I bought at 21 5/8 late in the day. Just couldn't resist. The valuation was just too compelling to me, despite some uncertainty. I'd be interested in what others think of Mattel, and especially what people know about The Learning Company. Jim

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