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

To: - with a K who wrote (18069)	11/23/2003 6:17:27 PM
From: Spekulatius	Respond to of 78777

I have been sniffing around Tapb as well after I saw how low it has fallen. Barron's had an article about SPC/TAP this weekend around the same lines. I have not found anything really negative yet so I am likely to be a buyer next week.

To: - with a K who wrote (18069)	11/24/2003 12:33:33 PM
From: Paul Senior	Respond to of 78777

SPC looks attractive to me as well. In addition to the numbers you mentioned, apparently the dealmaker and CEO, Mr. Fishman, is well-regarded by insiders. And it looks like he's a good story for media reporters as an up-and-comer Greenberg or Weill. That hype/image might add a glow to the stock- at least for a while. Since the deal is designed to be a "marriage of equals" and there's not much arbitrage opportunity, I'll concentrate on SPC because I like that there's a special extra cash dividend that will be paid to SPC holders to compensate them for lowered dividend when merger is done. I don't like stepping up for stock today, on a day when the market is strongly up. Perhaps in a day or so SPC will digest some of today's gain and again be at a more attractive entry point. That's just my personal nature speaking. The stock's either undervalued with some decent margin or it is not. Up .8 or 2.3% today shouldn't be enough to close a valuation gap that one perceives in analyzing the stock. So at current price, the stock ought still be in bargain territory. (One hopes.)