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

To: James Clarke who wrote (3720)	4/2/1998 8:21:00 PM
From: Andrew	Respond to of 78639

The New Valley preferred A's (NVLYA) terms are clear cut. 3/2/98 Barron's interview p37 spells it out. The asset values at cost more than cover double current market price. There are transactions here and in comparables that support even higher values. The current legal claim $260/share accretes at 19% making it 55% accretion on current market price. mandatorily redeemable in less than five years. bottom line I own the company unless Ben can earn his way out of this one.