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Non-Tech : United States Enrichment Corporation (USU)
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To: James Clarke who wrote (57)5/9/1999 12:42:00 AM
From: James Clarke  Read Replies (2) of 81
 
I am not a seller at anywhere near the current price. Or anywhere near the price three weeks ago. I don't think much changed in the last week if you are focused on the business. On Wall Street, a lot changed.

I am not going to spell out the case again for owning USEC. It is still available on the Value Investing thread at around the time of the IPO. All I will tell you is focus on cash flow, and remember the excess uranium inventory. They are selling it gradually - $80 million a year. That is pure free cash flow, well in excess of earnings, and it is going to be there to secure the dividend until that stockpile is gone - that's a long time. And the business is still quite profitable as well.

I would buy the stock here without reservation.

JJC
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