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

To: hoyasaxa who wrote (33021)	12/12/2008 4:22:25 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78751

"just something to consider, esp when valuing hard goods distributors..." Yes, that could be true. As I say though, for me, I've never found such be helpful, and I don't spend even one minute looking at a/r or dso for distributors. Or earnings for that matter. Not saying what I do is the best way, or only way, or that a/r dso couldn't or doesn't work for somebody. Just saying what I do, which is I buy distributor stocks based on p, bk, debt and maybe inventory level. In normal times (periods of normal business cyclicality), I've been satisfied with results obtained from a formulaic approach applied to a package of these stocks.