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

To: Paul Senior who wrote (14589)	6/8/2002 4:39:31 PM
From: Wallace Rivers	Read Replies (2) \| Respond to of 78748

I could be totally wrong, but the two on that list which IMHO have the least chance of stepping in multiple potholes are WM and BMY (I own neither). Just my gut. I hate to be a yield pig, but I am getting interested again in CMO, with a yield of over 30%!! I sold a while back at about $25, it has retreated to below $19 (granted with some big haircuts on ex dates). I don't foresee vast, rapid fire increases in rates that would absolutely decimate earnings, the dividend, and the stock. Nor do I think that the dividend will hold at these levels. In this environment, were the dividend to be even cut in half, that's still a good yield, and still above what the stock has historically yielded. Book value is about $14.50, and current management has it a lot more together than the past regime IMO. Any owners or those familiar with the situation, comments appreciated.

To: Paul Senior who wrote (14589)	6/18/2002 12:38:44 AM
From: Spekulatius	Respond to of 78748

I reentered BMY at 26$ recently. (I sold my BMY position a few month ago at 45$ - BMY has been the only money loosing pharma stock in my investment career). I am attracted to the 4.2% yield which I consider safe. Due to IMCL, BMY has the biggest "stink factor" in the currently disrespected pharma group. While I agree that the pipeline is weak I think BMY's problems are fixable. In the energy group, I like EP. This has been a looser stock for me as well but at 21$ this stock is very cheap. I think its the best bet in the energy group because it has less leverage than its peers.