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

To: Crocodile who wrote (479)	10/22/1998 5:45:00 PM
From: James Clarke	Respond to of 4690

I owned RAL briefly last fall and took about a 15% run. But I will eventually buy this one to hold. RAL is in two excellent businesses and has several hidden assets on the balance sheet (stock in Dupont and another public company). Management is unusual in that they don't play Wall Street's games - no quarterly guidance to analysts, and I don't think they do conference calls. I think the current price is a decent bargain, which means I'd probably buy at 25. Jim

To: Crocodile who wrote (479)	10/22/1998 8:27:00 PM
From: Shane M	Respond to of 4690

Croc, I appreciate your comments on RAL. You commented on gradually establishing a position in a stock over time. I too have recently adapted this strategy and find it suits my temperment much better than buying full positions all at once - although it does increase transaction costs somewhat. I find I'm a hopelessless bottom fisher, and buying in small chunks allows me to go ahead and buy without always waiting for the absolute bottom. I am willing to average down once and sometimes twice, so buying partial positions works well psychologically too. Shane