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

To: jeffbas who wrote (12420)	5/4/2001 10:32:29 PM
From: Bob Rudd	Read Replies (1) \| Respond to of 78752

Jeffrey: When I first danced with USG in 99, James Clark said it reminded him of 2 things, asbestos and bankruptcy. They quit making stuff with asbestos 30 years ago and the bankruptcy was the late 80's due to debt. I dismissed both as ancient history. Now it looks like one leads to the other. Talk about long tailed liability. And these companies weren't doing anything wrong or nefarious as far as I can tell. One or two of them bought pipsqueak divisions that had at one time done some asbestos stuff and ended up going under because of it. Any long-term investor that doesn't have his eye on these contingent liabilities is cruisin for a bruisin.