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

To: James Clarke who wrote (14342)	5/17/2002 8:54:03 PM
From: Wallace Rivers	Respond to of 78711

Hello, Jim: I was hoping to get yours, and Mike Burry's, feelings on this ALD situation. That is, if either of you can comment on it, and not compromise your professional situation. If you do talk to him, might you ask Mike his impression, and, again, if it doesn't compromise him, and he has time, post on this matter? Better yet, if Mike sees this, what do you think? Is there a sufficient margin of safety (a favorite buzzword nowadays) here? Are the Velocita and Loewen debt indeed overpriced, and need to be written down further? Even in such an instance, how much of an impact will that have on the company's NAV and cash flows? I personally think this is a colossal bear raid, and now the lawyers are piling on! Management seems intelligent, focused, and honest. But, as Paul says, I've been wrong many. many times. This is not the easiest company to get a fix on. I have no position yet. Thanks, Wallace

To: James Clarke who wrote (14342)	5/24/2002 2:28:29 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78711

Note to Jim Clarke: if memory serves, you responded favorably to UNF, a stock I had posted on in late '99. Jim, I've appreciated that support. Today I sold my UNF position. UNF is a very good company - good management and good historical performance, esp. revenue. (over 30 years of continuous revenue growth, when I last looked) It's just become too difficult now for me to hold on. finance.yahoo.com This market is making me antsy. That shows up in my anxiety to hold on to profits while I still have them. UNF p/book and p/sales are not out of line with historical numbers; the p/e though is higher than I would like to see. And UNF performance notwithstanding, they do operate in a very competitive business. Paul Senior