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

To: Grommit who wrote (20001)	11/3/2004 6:25:02 PM
From: David	Respond to of 78652

Your link to James Clarke's message brings back a bit of nostalgia. I made investments in MAXS, LKI, EBSC, FIT and BL and made enormous returns on every one with the exception of LKI which I continue to hold because it remains so bargain priced. I anticipate one day, despite the long holding period, I will achieve a sizable economic return on that investment too. Message 12907591 BL has been an exceptional hold and I remain confident holding because of its strong balance sheet and steadily improving business operations. Recently an investment group purchased 5%+ interest in the company with the stated intention of consulting management about increasing shareholder value. BL was a Ben Graham spectacular. I believe my before tax return on that hold since December, 1999 is around 49% per annum all awhile enjoying minimal downside exposure because of the balance sheet safety net and dividend. It has been a long time since we have uncovered profitable net nets with simple easy to understand businesses like the companies listed above, the SCNYAs, PBSCs or BAMMs or General Cigar Holdings, ISDNs, FRDs, JOBs, etc. I am not sure where to look anymore, or if they have all dried up. I am also holding FIT (I purchased FIT a second time after they sometime after they announced their liquidation plan around the time when the stock price plummeted after management announced its intent to purchase the company for nearly half the price that the company was trading at). A recent release stated that the company was out of nasdaq compliance and may be unlisted. I probably should sell it as the company trades at about net current assets. After the liquidation payouts I have about a zero basis in the company.