Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: cfimx who wrote (1282)	2/17/1999 7:11:00 PM
From: Freedom Fighter	Read Replies (1) of 1722

Twister, (Sbarro Update) >>what's up with sba. Still a go iyo?<< I spoke to the company after the close today. Someone sold a million share block. It was not a member of the Sbarro family (they own 35%) and there was no corporate news to account for it. I see it two ways: The arbitrage is even more attractive at this price assuming a close. Worst case you are getting a company with $6 bucks of excess cash and earnings power of $1.80 - $1.90 for $24.75. You're paying about 10 times earnings for a company that generates extremely high returns on non-cash equity that still has domestic growth opportunities and is about to launch a more serious international investment program. It also owns minority stakes in several other restaurants. I ate at one recently and its super. I can't see how you can go wrong. I wish I was a Sbarro family member taking this company private at $28.85. Wayne Crimi - Value Investor Workshop members.aol.com

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