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

To: Paul Senior who wrote (11361)	10/28/2000 2:52:43 PM
From: James Clarke	Read Replies (1) \| Respond to of 78615

I hope I'm not the only one jumping for joy reading Barrons this weekend. They've got a full page article on SYM that reminds me of the one that doubled Tejon Ranch three years ago. Remember the discussion we had on SYM several months ago. It was a buy under 4 with a value of at least 7. Apparently I was being a little conservative. While I valued the buildings, I just realized that I had assigned no value to the land. They own the land under their store in lower Manhattan! Management has just stated clearly and publicly in Barrons that THEIR OWNED LAND ALONE is worth $10 a share. Then you've got a net-net valuation and the buildings on top of that. No debt. I think Monday's going to be a good day. If it goes to 8 do I sell for a double is the real question I'm now grappling with. I think we're looking at $15-20 worth of assets here.