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

To: Paul Senior who wrote (12944)	8/14/2001 10:57:51 PM
From: Brendan W	Read Replies (2) \| Respond to of 78753

>>>NEW YORK, Aug 14 (Reuters) - Berkshire Hathaway Inc. (NYSE:BRKa - news), the holding company run by billionaire investor Warren Buffet added a 5 million share stake in Office Depot Inc. (NYSE:ODP - news) during the first quarter, according to a filing with the Securities and Exchange Commission. Buffet bought a 2.25 million share stake in Honeywell International Inc. (NYSE:HON - news) in the second-quarter, according to the Form 13F Berkshire filed with the SEC on Tuesday. <<< I would guess Reuters doesn't know if this is Simpson or Buffett. I bought a small position in ODP at $7 in 6/2000.

To: Paul Senior who wrote (12944)	8/15/2001 4:35:02 AM
From: Bob Rudd	Read Replies (1) \| Respond to of 78753

I've had IPG on my watch list, but haven't found it compelling as yet. Insider selling and low ROA are concerns. WSJ had article 8/14 "Current Ad Slump May Be More Painful Than Thought" So there's internal restructuring and industry turmoil. I like the concept of the biz, but will probly hide and watch for awhile. Picked up small position in CPST Tues @7.60 with reservations. I like the distributed power biz and the multiple opportunities [Vehicles as well as stand alone generators + emerging markets]. Insider offers for sale have been large and consistant, but at higher levels: Less than 1.4% of insider offers are at less than 17.7 and the lowest @ 12 is 60% higher than current share prices. Also there appears to have been few actual sales. In a recent [8/6] Merrill report, the analyst called a DCF value in the early 20's. With $3/share in cash, I suspect the underlying biz is worth more than 4.60 [7.60-3]. If share price doesn't rebound, I wouldn't be surprised to see a GE or TYCO type outfit looking. Marty Whitman made some semi buys based on 'A lot cheaper than a VC could put it together' concept...this is that, I think. Like your IPG, I'm doubtless early and would expect to add to position at lower prices before year end...unless a big order hits and it doew a V...that's my reason for coming in now.