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

To: Paul Senior who wrote (13224)	10/22/2001 3:36:16 PM
From: Dale Baker	Respond to of 78704

In the oil patch, I have GW long in shares and some OXY Jan 25 calls, both good value plays with respected positions in the industry.

To: Paul Senior who wrote (13224)	10/23/2001 4:45:11 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78704

I'll start a position in CLHL today. carlisleholdings.com negatives: Hodge-podge company -Has banking interests in Belize. What's that all about? Overly diversified for its capital structure? -Staffing services is a tough/rough business to be in now. Too much insider (chairman's) control? Possible that larger companies (ABM) freeze out competitors by locking clients into long-term contracts. CLHL also at risk if they (CLHL) improperly structure fixed-price contracts. Hurt by WTC collapse A thinly-traded, two-buck stock no one's heard of or cares about? positives: With low stock price ($2-2.15 - perhaps an 8 year low), price/sales at .1 is low, and price/book at .3 is low. Ltd/eq should be manageable at .2. If company can one again earn .68/sh (it did this or better in '96,'97,'99,'00), that'd be a too-low (imo) p/e of 3 if current stock price did not advance. Some of CLHL's businesses are necessary even in a recession: facilities maintenance (janitorial services, building maintenance and repair) and manned security. -------------- In looking at this sector, the safer/bigger/better company seems to be ABM based on track record. (It's a nice dividend-grower too). I choose CLHL because a large capital gain (percentage-wise from about $2.10) seems very feasible. finance.yahoo.com Jmo, and I've been wrong many, many times.