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

To: Paul Senior who wrote (7920)	8/1/1999 2:29:00 PM
From: Shane M	Respond to of 78800

Paul, FWIW Re: TSG --> I looked into Sabre Group a few weeks ago and it is on my buy list on a price pullback. I could see a reasonable buy in the mid to upper 40s, but I don't know that I expect that pullback.

To: Paul Senior who wrote (7920)	8/1/1999 7:14:00 PM
From: Bob Rudd	Respond to of 78800

If one were interested in capturing AMR - TSG net, a long - short combination might be useful to consider. I think Paul makes a good point about the valuation of TSG that can be generalized to anything looking cheap due to ownership of high valued internet stub. Without the long + [short net stub], it's a bet that the net stub value is real.

To: Paul Senior who wrote (7920)	8/2/1999 12:53:00 PM
From: Allen Furlan	Read Replies (1) \| Respond to of 78800

Paul, congratulations on your ctz selection. Since you have researched this one do you have opinion on probability of the deal being completed? Seems like a fair to good arbitrage situation at a 47.5 price for 52 take out..