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Strategies & Market Trends : Value Investing
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To: Michael Burry who wrote (7308)5/25/1999 2:48:00 PM
From: Wallace Rivers  Read Replies (2) of 78607
 
I am starting to look at a stock I traded a couple of times prior, thankfully for a profit.
Perini Construction (PCR)
Trades at ridiculously low P/S, PE, and P/B. Richard Blum (financier and husband of Dianne Feinstein), owns a large # of shares, I believe at a substantially higher price than currently quoted.
Problems:
Large debt load (a portion of which is a preferred which is in arrears, I believe), an industry with very tight margins. Lack of liquidity and sponsorship.
Became interested having been at a Red Sox game this weekend (the Sox won 10-8!), and travelled through the "big dig", where there is immense road and infrastructure construction in inner city Boston. Seemed to me to be a business with relatively high barriers to entry. This is being performed by Perini. This type of business is higher margin, per my information. Also has recently lined up new casino construction business in Connecticut. Signed new embassy construction business worldwide.
comments?
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