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

To: valueminded who wrote (739)	12/23/1998 11:35:00 PM
From: James Clarke	Read Replies (1) \| Respond to of 4691

Interesting you mention DeBeers (DBRSY). You put it in a category with Cyprus Amax, i.e. metals. And that is how it has traded recently. Also its a foreign stock - yech! But does the diamond market have a touch (just a touch) of the Buffett sense to it? Its a cartel, and DeBeers is it. On the other hand, their earnings have been all over the place. What they do have is an awful lot of assets. The valuation is tricky, but I think you will come up with something north of $30 a share if you can track down everything they own. The stock trades at 12. Assume the 8% dividend will be cut. That's not what you're looking for with this one. Maybe I should have posted this response on the value thread - given the exchange today I forget where I am. Take a look.