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Strategies & Market Trends : Brand Name Values and Turnarounds -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (58)	6/24/1999 10:37:00 AM
From: Paul Senior	Read Replies (2) \| Respond to of 82

Whoo. Here's an ugly stock: Filene's Basement Corp. (BSMT). Hard to evaluate this regional retail chain. Possibly lots of off balance-sheet items. They are expanding stores. And losing money. And in a tough business. Talk about a stock in the pits. Or the basement -g-. Looks like at 1. 3/8 it's sorta/kinda like a call option that doesn't expire. $29M cap with $600M sales. No long term debt. Book value maybe about $2.60. Stock at its lows. Some people posting on Yahoo say exec's have their own interests ahead of stockholders' and this is a factor in company and stock performance. Turnaround item might be related to new Chief Merchandising Officer they've recently hired. Stock is either something to flee from, or go extreme the other way-- to load up on in expectation that it'll regress to mean (somehow), or maybe just to take a small position in. I see it as the latter - a speculation, okay maybe in a small amount within a well-diversified portfolio. I've bought a small amt. today. Paul Senior