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

To: Shane M who wrote (1553)	6/1/1999 12:58:00 AM
From: James Clarke	Respond to of 4691

Tompkins: There is over a billion dollars of book value. Trades at about 3.3x book. I'll look closer at the capital expenditure question, of course being careful to separate capital expenditures from acquisitions. I like that news item you linked as well. I had been looking at the long term wealth generation and ROE of this company. I hadn't looked at the recent news yet. It appears they levered up a bit (they had no debt before) to repurchase 15% of the shares. Two reasons this stock might be down. It appears earnings sputtered in the last six months. And they also own Smith & Wesson, the world's largest handgun maker. The lawyers are looking for the next industry to steal from, and guns are on their radar scope. (Maybe this is an industry with the means to defend itself.)