Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Marc Fortier who wrote (11592)	12/15/2000 9:52:34 PM
From: Paul Senior	Respond to of 78985

Marc F. re: building materials companies. Yes, agree that MAS at the right price ought to be of interest to Mr. Buffett. also, fwiw: I have a position in BMHC. This building materials company is similar to HBP, which at least a couple on this thread have endorsed. HBP trades at a low price, as does BMHC, imo. HBP has interesting institutional support though with Baupost, Royce, Gabelli, and Ruane, Cunniff, who are all holders (assuming I have the latest, correct info.). I chose BMHC because its price/book is lower (better) than HBP. I find it odd that building material supplies companies are stuck at their low levels while the various homebuilders mentioned here so often, have all (from what I can tell) risen substantially (imo). Paul S.

To: Marc Fortier who wrote (11592)	4/15/2003 3:24:54 PM
From: Paul Senior	Respond to of 78985

I've initiated a very small exploratory position in MAS now. partners.thomsonfn.com MAS has moved up somewhat from recent lows but p/e on expected '03 earnings is still relatively low. I like that p/sales is relatively (compared to previous years) low, and that MAS has relatively decent profit margins. Dodge and Cox, the fund mentioned here favorably, is the largest mutual fund stockholder. I don't like the increasing and large debt and the very possible diminished outlook for home builders and home suppliers. (i.e. MAS in cabinets, plumbing supplies, etc.) Also there's the controlling shareholders (Manoogian family) and CEO Manoogian's very high salary. MAS is a further diversification move for me in the sector. I still have all the home builders and associated companies that I've mentioned that I've bought.