Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: James Clarke who wrote (8415)	9/28/1999 10:14:00 PM
From: Paul Senior	Read Replies (4) \| Respond to of 78973

CTO- the "latest" Buffett stock- should be a very interesting story when the details come out (if ever they do). I see that Mr. Buffett now admits to owning about 5.7% (about 363,000 sh). Couple of other interesting points (interesting to me anyway): I've come across CTO in reading about Baker Fentress (BKF) which is an investment management company which is now in the process of distributing its equity investments to stockholders. One of those investments is CTO. That is, 5.0M shares of CTO are being distributed to BKF shareholders. But there are only 6.4M shares of CTO outstanding in total. So I just wonder how and when Mr. Buffett acquired his 363,000 (if the float were only 6.4-5.0=1.4M shares); and I just wonder if Mr. Buffett acquired those CTO shares as a result of the BKF distribution. Which could mean that Mr. Buffett has or had a position in BKF (or he could have purchased after the CTO shares were distributed). In either case, since I (and you, I believe) still have a general interest in Florida real estate companies, and the CTO board has indicated it might use its available cash to buy up to 25% of CTO stock, I am interested in how this all plays out. Paul Senior

To: James Clarke who wrote (8415)	9/28/1999 11:37:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 78973

Jim, EBSC does seem interesting. I have four questions: The following chart shows that they have the worst performance of their peers. Do you know why? techstocks.com Why mightn't this be a situation that stays cheap (for a long time) until they have bought back so much stock that a potential acquirer finds the cost he has to pay reduced to where it is irresistible? How badly will Internet shopping hurt them fundamentally in the longer term (or their valuation - this ain't no Amazon)? We don't know whether the shoe store chain will be sold at a loss or not, do we?