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

To: doug5y who wrote (12486)	5/21/2001 1:19:20 AM
From: doug5y	Read Replies (1) \| Respond to of 78652

PS ACAP is a great story too. Recently announced stock buyback, trading well below book. Well worth a look. I'm expecting $30.00 on this one, at least. Picked mine up at $16.00. And it lets me sleep at night! JMHO....

To: doug5y who wrote (12486)	5/21/2001 6:12:48 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78652

re CAT: Very good move in that stock. I couldn't see it. I don't understand if CAT is a growth stock, a cyclical stock, or a value stock. Maybe it's been all of them. (And maybe I should go back and read Mr. Buffett's opinion -something about it's not an either/or situation between growth and value.) CAT is selling at the high end of its recent p/sales. Looks like over the past few years sales have grown from 16 to 20 billion. But debt/equity has doubled. Shares outstanding have come down somewhat. ROE has worsened. I suspect the critical issue though is as you point out - that the likelihood of an increase in government spending - power generation, maybe other infrastructure - roads, bridges - and the concomitant attention this brings to investors - might be enough to continue to propel CAT's stock price. I say yes, because it seems to me that just as construction company stocks are up at new highs in anticipation of new business, I expect construction equipment stocks like CAT to see new highs too. Of course, I defer to the thread expert on CAT, who I believe to be Mr. Clarke. I continue to hold my construction-related stocks in anticipation of further gains. finance.yahoo.com Paul.