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

To: Paul Senior who wrote (10470)	4/28/2000 3:56:00 PM
From: jeffbas	Read Replies (2) \| Respond to of 78958

I think going to the SA is a great idea. Fashions tend to cycle every so many years. By getting your clothes at the SA you will be wearing what will soon be the style again <ggg>.

To: Paul Senior who wrote (10470)	4/28/2000 5:47:00 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78958

re: RPM, LANC, ARG, BOBE: Sold RPM. Just lost confidence in it even though it has a superb sales and dividend record and low p/sales. Increasing debt, slipping roe, negative Yahoo posts - got to me. Proceeds into Lancaster Colony. Mentioned here briefly last year (by J. Clarke??) Stock rose quickly and now has dropped down into my upper range for an exploratory position. For a conglomerate that makes mundane "stuff" they are surprisingly (well, I'm surprised anyway) profitable. Consistently high ROE, stock buybacks, elimination of long term debt, increasing dividends (37 consecutive years), stock at 3 year low. A lot to like with the financial performance this company has delivered in the past. (This stock would be suitable for inclusion in a "mom's portfolio", imo -g-) Starting a position in Airgas as it fails to meet earnings expectation and drops to a 7 year low today. Not greatly profitable (ROE), but now selling below stated book value and only 2x EBITD. ARG is "the largest distributor of industrial, medical and specialty gases in North America". There's been insider buying at higher levels. Adding to my small position in Bob Evans Farms. Stock's attractive to me based on its relatively low p/sales, price/book, lack of long term debt, established businesses. ROE is mediocre, sales growth is not stellar. Family controlled, they've made errors (Mexican restaurants), but have recovered, and core businesses seem stolid and solid (to me). Looks like in the past 8 years, $12-13 has been a bottom for the stock. (BOBE closed today @ 13 1/16.) I'm betting the stock will regress to the 20 level, given some time. Paul Senior, who has been wrong many, many times.