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

To: Paul Senior who wrote (20350)	12/28/2004 4:51:52 PM
From: Broken_Clock	Respond to of 78753

Lot of put selling on the Feb 25's for ALD. Looks like a good move there Paul.

To: Paul Senior who wrote (20350)	12/28/2004 7:54:12 PM
From: puborectalis	Respond to of 78753

Watch out for the cockroaches.

To: Paul Senior who wrote (20350)	12/28/2004 9:02:58 PM
From: E_K_S	Respond to of 78753

Hi Paul - I sold my ALD selling covered calls and collecting the dividend. I am skeptical about management and their accounting procedures. The business in general is interesting and they do generate good fees and even participate in equity positions in several of the deals they help finance. This becomes moot if their accounting is suspect IMO. I also noted that the company issued new debt totaling $325 million ( biz.yahoo.com ). I guess I would like them to invest more of their capital into the business rather than cranking up their debt. This new issue paid down a previous line of $102 million but still increased their total by $224 million. I will be watching to see if this investigation results in any action. Maybe it is worth looking at it again if I see that management is upping their buys in the stock. So far, it appears that they continue to sell shares of stock based on options they granted themselves at much lower prices. EKS

To: Paul Senior who wrote (20350)	12/29/2004 5:05:41 AM
From: blankmind	Read Replies (2) \| Respond to of 78753

Does anyone have an opinion of CALM - Cal-maine foods. They're losing money. But as the #1 egg seller - i'm wondering if anyone knows or thinks they know if Cal-maine is the low-cost producer? thanks

To: Paul Senior who wrote (20350)	1/13/2005 9:51:21 PM
From: E_K_S	Read Replies (1) \| Respond to of 78753

Hi Paul - I have been researching more undervalued real estate issues and have discovered many churches (all across the US) are sitting on property land holdings that were acquired many years ago at prices way below current market value. I have not been able to identify a "pure" play to buy an REIT or publicly traded company that holds these type of land assets (specifically churches, schools, colleges or other religious organizations). There are "Church Bond" offers but they are not liquid and are not diversified enough for this value theme. Can you think of any publicly traded organization that might have a component of these types of land assets on their books? I have noticed several of our local churches selling a portion of their real estate for new home developments. They still keep their church with less parking (or sometimes sell out and build a new church in another location). These are private transactions and not available to the small investor. I know that the Mormons are huge land owners so perhaps there is a publicly traded holding company located in Utah (Salt Lake City area) that may have some of these undervalued real estate assets on their books. Any ideas? EKS