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


To: Chuzzlewit who wrote (879)12/30/1998 10:53:00 PM
From: James Clarke  Respond to of 4691
 
I know BKS well and would not touch it at anything close to this valuation. It may be first in its industry, but its industry is a LOUSY industry where things are really competitive (and getting worse with the internet) and nobody has ever made much money. They have loyal customers and a great atmosphere - I love B & N stores - but the business is godawful. When the leader in an industry is making 11% on equity and 3% on assets, stop right there.

Jim