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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (70666)	9/29/2006 5:49:18 PM
From: carranza2	Read Replies (1) \| Respond to of 110194

at a 5x PE, i consider the price to have a Graham & Dodd-esque margin of safety--a rarity these days. Of course. I have been turning VLO around in my mind for that reason. I cannot believe that the pps has not been bid up substantially yet. I look for a reason, and the ones I noted about long term prospects are the only ones I can come up with, and they are insufficient to keep the p/e where it is. Heck, even its retail operations should be comparatively high margin affairs thanks to the discount. In other words, what gives?