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Strategies & Market Trends : Buffettology -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (1625)	6/26/1999 9:49:00 AM
From: Freedom Fighter	Read Replies (2) \| Respond to of 4691

James, After my last note I went back to the 10K and saw the Dupont stake. I agree with your assessment of the situation. It's a fine business and very Buffett-like. If I get a chance today I'll take a better look. What I'd like to know is what percentage of the earnings are coming from the battery business and how much capital is allocated to it. What's the spinoff price likely to be? That way we can do a better appraisal of the cat food business. I think 18X earnings (if that's the case after the battery spinoff) is a little steep for a purchase by me. It's a good price in this environment, but I rarely pay more than 15X earnings for anything. I think we should continue this discussion. If it turns to not be cheap enough right now that's OK. We can always keep it on a hot list and wait. Wayne