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

To: Paul Senior who wrote (21350)	5/20/2005 1:45:04 PM
From: Paul Senior	Respond to of 78526

From the new lows list, I'll take a few shares of Lindsay Manufacturing (LNN), a manufacturer of irrigation systems for farmers. This year's not going to be good for LNN's business, it seems. Prices for LNN's raw materials have increased, and LNN is attempting to pass these along to their customers. But farmers and their lenders are balking - putting off their purchases. biz.yahoo.com I'm betting demand is still there, and eventually LNN will see customers spending again. The company is debt-free (according to Yahoo) and perhaps has enough cash on hand to wait for better times. For investors, there's a small - 1.2% - dividend yield while they wait. According to Yahoo, Third Avenue Management - the "safe and cheap" guys - are the largest institutional holder. Among mutual fund owners, Neuberger & Berman Fasciano Fund is in (or was in), also according to Yahoo. (Several media reports have described Mr. Fasciano's apparent stock picking prowess.) A revision-to-mean bet, I'm looking to see the $17.70 stock sell again at $25-26 within the next 18-24 months. That's a level at which the stock has traded several times over the past five years: finance.yahoo.com