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

To: Paul Senior who wrote (14227)	4/2/2002 5:57:57 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 78740

Bill Nygren was very positive on WM in a recent OID. the Oakmark Select fund had over 15% of assets in WM as of 12/31/01. i am long the stock.

To: Paul Senior who wrote (14227)	4/2/2002 6:00:59 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78740

fwiw, I've started a small position in VINT today. Maybe bulk grape business is like steel business, where domestic industry gets overwhelmed with cheaper (and better?) foreign product, and domestic producers die slowly. Looks like VINT is on a death spiral. Still there've been buyouts in brand name wineries, and if VINT can't come back, maybe there's value in the land they own. (Tear out those nice vineyards in Napa, CA. and plant yuppie vacation houses!) gsvwine.com VINT will make a classy addition to my cigar butt collection. :>) Paul Senior

To: Paul Senior who wrote (14227)	7/16/2002 1:55:38 PM
From: Paul Senior	Respond to of 78740

I trimmed my small position in FBP today and cut back more of my long-term and disappointing FSS. I've added to EP and will try again with ABN by restarting a small amount. S&P says to avoid EP based on changes in business strategy and negative investor sentiment regarding its industry. There are balance sheet and dilution issues. Still, EP, among other things, is North America's largest pipeline company and the fifth largest natural gas producer. (As has been alluded to here before in EP discussion, natural gas is expected to be a fast growing part of the "energy complex".) Imo- or at least for me, the stock is impossible to analyze given its complex businesses and accounting. I'll go with the stock being under stated book value, near multi-year lows, and possessing over a 5% dividend yield. (And that dividend, according to S&P table, has been raised many times.) I'll hope the dividend continues and that I can hold the stock for an eventual price improvement. Somewhat similar with ABN. I can't figure the financials, but the size and breadth of the company provide some assurance that it might survive business setbacks. A lumbering giant, selling at lows in a channel very roughly between 15-25, there's a 5%+ dividend while awaiting a possible upmove in the stock. finance.yahoo.com finance.yahoo.com Paul Senior