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

To: Wallace Rivers who wrote (9487)	1/3/2000 1:38:00 PM
From: jeffbas	Respond to of 78666

On EBSC, I would think the catalyst would be better than expected current quarter earnings, "or else" - the large holders effecting change, either in mgmt of sale of the company. Since they own half the stock, and mgmt owns little, a sale could be effected with or without management involvement. That said, I find today's action disappointing. I was looking for action more like that other value stock I have mentioned here in the past (SEMI) has shown today. Here are some statistics I gathered off the insidertrader.com screens on FD and EBSC, which is in its backyard: P/Sales-0.6/0.1 P/E-14.6/3.5 (based on ttm earnings for EBSC of $1.48, which disagrees with Yahoo) P/EBITDA-4.6/1.7 P/Free Cash Flow-13.8/-- P/Tangible Book-2.4/0.3 P/Cash-17.8/7.7 Debt/Equity-0.8/0.8 Current Ratio-1.6/4.2 ROE-13.0%/10.2% It seems pretty obvious to me that Federated or anyone else could pay double the current price and still have a bargain.

To: Wallace Rivers who wrote (9487)	1/3/2000 2:05:00 PM
From: James Clarke	Read Replies (2) \| Respond to of 78666

I expected EBSC to do well moving into January too, but I still am optimistic here. It is rare you find a valuation like this with any positive catalysts at all. Here we have one with both a likely positive surprise for the Christmas quarter, and large aggressive shareholders with the power to make something happen. Blair showed several more insider buys at the end of December. That makes eleven separate insider buys since November 1 with no sells.