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

To: LauA who wrote (9475)	12/31/1999 6:03:00 PM
From: Paul Senior	Respond to of 78687

LauA: WSC. others. Yes, I looked at WSC a couple of days ago after I saw it written up in Dick Davis Digest. According to W. Baxter of World Economic Service, the intrinsic value of Wesco is $295/sh (vs. today's $245/sh close). Mr. Baxter "wouldn't be surprised" to see WSC bought out upon Charlie Munger retiring and he is "nearing retirement age". I passed on WSC-- I've got more than enough insurance stocks right now, some of which I believe to be better values than WSC. (IPCR comes to mind) Also in that same issue, BRKB itself was recommended. And First Data (FDC) which was spun off from Am. Express and about which "it was recently disclosed that Berkshire Hathaway brought 5%... over the last year". FDC looks to me like an excellent long term growth prospect. But share price too high for me now. LauA: Also thanks for posting here. I was able to catch your net-net GAI when you posted on it in early Nov., and I'm taking some profits on it today (56% gain!). IMO congratulations are due you. To me, these net-nets -- even ones like GAI selling after all debt is out and still below cash - they are not so easy or simple layups. I'm taking some profits this week in TCSI and some "profits" in DAIO ("profits" in quotes since I don't really consider 1/8 of a point on DAIO bought @ 2.5 eleven months ago a "real" profit). These are net-net stocks bought also at below their cash-in-hand, but they burned through much of it in a quest to develop new products. And now their stock price is much dependent on the success of those products. Sorry I was not quick or astute enough to get LR. I missed it after its quick rise from your post at under 3 up to about 5, and yet again I didn't buy when it dropped back to under 3. It's close to 4 again. I hate it when the same stock keeps tantalizing me that way -g-. Anyway, thanks, congratulations on some good work, and Happy New Year! Paul Senior