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

To: Shane M who wrote (8015)	8/15/1999 1:53:00 AM
From: Don Earl	Read Replies (1) \| Respond to of 78822

Have a look at AZTC. Good growth, hasn't had a negative quarter in 4 years. Earned .03 last Q. Book $4.87. Price $1.88. The stock got clobbered good when it dropped below $5 and had to move to the NASDAQ small cap market. As IT spending shifts away from Y2K bug fixes and gets back on track this kicked pup should stand up and bark. I think a person would have a real hard time finding a better value in a tech stock with positive earnings. yahoo.marketguide.com Regards, Don

To: Shane M who wrote (8015)	8/15/1999 11:25:00 AM
From: Freedom Fighter	Read Replies (2) \| Respond to of 78822

Shane, I generally agree with you. I'm not quite sure how to value Mr's Smiths or Flowers Bakeries either. There's a lot of investment going on, but there's a lot of one time charges too. I think at a stock price of 15-16 you are getting them very cheaply though. Keebler also looks like they are really getting their act together so that stake could become much more valuable over time. If anything I expect the surprises to be on the favorable side. At least if you look out to next year. In this environment that's the best I can do within my range of comfort. Wayne

To: Shane M who wrote (8015)	8/15/1999 11:57:00 AM
From: Michael Burry	Read Replies (1) \| Respond to of 78822

Shane, I think if you look at Keebler's future, they're trading at less than 12 times cash earnings a year or two out. We don't really know where they'll be, but a good guess is that they'll keep growing and surprising. KBL itself is undervalued IMO, and the analysts are behind on that story. I'd say with FLO we're getting KBL at fair value, and Mrs. Smith's and the bakery for free. Mrs. Smith's is about to run out of one-time charges. I look at it as a growth story, producing earnings where there were losses. The bakeries are slow steady growth. It's an asset play now that likely will turn into a Buffett-like steady grower. One of those where the ones buying now could look like geniuses. Mike