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

To: sjemmeri who wrote (27993)	9/1/2007 9:33:11 PM
From: James Clarke	Read Replies (3) \| Respond to of 78764

ANF I've been out of since about low 50s which was probably '04-'05. Made a sick amount of money on a short term call option in early '04 which made up for the early sell and basically made my year in '04. Fantastic company, but I get very concerned that the management team has completely turned over except for the CEO, and they are getting closer and closer to saturation of their core concept. They have done a great job starting new concepts. Still looks reasonably valued even at 76, though if they have a misstep in this environment the stock is going to get killed. Love the company, but if it went to my valuation again I'd be concerned because its under different leadership. You know what stock really surprised me is AEO. They've done just as well as ANF even though I always viewed them as a second rate ANF. That has been a great stock as well. Haven't gotten a clear head shot at ANF since early '04. There are zillions or retailers that are down hard now - ANF is not one of them this round. This one usually gets killed in an environment like this. So whats the one to buy this round. I own HD and RCII and BGP but not satisfied that any of those is a pitch down the middle of the plate like ANF was in July '00, Oct. '02, and early '04. After 7 years it seems the market has finally agreed with us that this is one hell of a company. Which brings up Woody Allen's quote from Annie Hall I believe "I wouldn't join a club that would have me as a member" - once the market considers a company great, my game is up! So what retailers have gotten killed? Is it DLIA? I don't see anything there. I don't think its SHRP. Is it HD - too big probably. Is it PLCE? Is it CC? WMT is sitting on a five year low, and that is one many many value investors pounded the table to buy 1-2 years ago at higher prices. BGP is probably the most interesting one I own and we've taken some lumps on this one, but its no sure thing. If it works it could work big though.