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

To: Paul Senior who wrote (25821)	5/7/2007 12:52:19 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78666

Asset manager LM. I had been averaging up on the position. Last previous purchase at 109.88 in Jan. Stock dropped and I've held. Re-evaluating the company now, I see I've goofed and was too focused on buying only on scale up and not focused enough on the value of the company: should have added yet more Mar-Apr when stock fell to the 94 level. The company - imo - is very undervalued based on my criterion for asset managers, namely assets-under-management to company market cap. Not just me, this metric seems to be the standard one employed by analysts in the sector. (With some allowance for stocks vs. fixed income management and maybe (??) market cap of the asset manager.) Given my use of this metric on LM again now, and being surprised by the large undervaluation I am seeing for LM, I'll up my position a little more aggressively. Adding today @105+, and I expect I'll continue to add. finance.yahoo.com