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

To: LauA who wrote (2619)	7/20/2000 3:20:30 PM
From: Freedom Fighter	Respond to of 4690

LauA, If I buy HMN it will be for the long term. So I won't be too concerned about it moving immediately. I haven't studied the maturities of the bonds, but as they mature (and/or time passes) the book value will move back up. (without including further growth) Personally, 1st guess, I'd say it's worth somewhere between 1.5 and 2.0 times book without a takeover premium. I think book right now is right around $10 +/-. As far as I know the bid was serious. The company hired an investment bank to review alternatives. No better bid came in. Wayne