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

To: jeffbas who wrote (14672)	6/24/2002 3:20:28 PM
From: Bob Rudd	Respond to of 78750

Jeffrey LTBG Thanks for input on the new pres. There is some 'acquisition risk' because they have a lot of cash. There's no indication that they are an undisciplined acquiror, however. I connected with LTBG when they bought cash fat CAIR at what I considered a lowball price. If they do a bit of disciplined shopping at the telecom 'close-out counter' that might not be a bad thing. Very different than Cisco type acquisition strategy.

To: jeffbas who wrote (14672)	6/28/2002 12:42:45 PM
From: Bob Rudd	Respond to of 78750

LTBG Bailed on my initial tiny purchase with small loss [8.70-8.32] today. What I failed to look at and give sufficient weight to was insider selling @~10. The industry is ugly. My thesis has been that LTBG, because of the nature of the services [security & such] and superstrong balance sheet will be relatively unaffected. The insider selling at levels not so far above current, gives me pause. LTBG is thinly traded and repeated revelations could hit the stock hard. Low price insider selling implies that things may be worse than appears. Conditions have worsened since that selling took place -WCOM will reverberate in the industry. I'm probably going to wait till either a real smash down to the 5 or 6 range or tax-selling season for reentry. Insider activity is no assurance [WCOM's Sullivan sold no shares, GHV's CB bought heavily a few months before BK became obvious]...but I'm going to start requiring that it at least not be going against me.