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Flexsteel Industries Inc. Message Board

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  • pmlljl pmlljl Mar 1, 2005 9:48 PM Flag

    so... back to FLXS

    boxcarrs: You are probably correct. I do not forsee FLXS dropping to $10-$12 in the near term.

    I should have added that my tight credit and higher interest rate scenario could cause a broad market decline in which case prices can be unpredictable. My hope would be that in a panic someone would have to sell FLXS to meet a margin call or something and I would be able to buy it at a bargain price.

    I used to own a large position in FLXS that I accumulated over the years at purchase prices between $10.65 and $15. I sold it over about two years between roughly $17 to $23. It was a good experience. At $10 to $12 I would probably buy it even if the furniture business is tough and imports from China continue. At $16 I worry more about the problems facing the furniture business.

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    • I am not a fundamentalist at all and there is no way I can ever fully understand the intricacies of the industries in my diversified portfolio. So, you guys who really understand the furniture business (I could say, the leisure travel furniture business to be really specific) might as well be speaking Greek. I invest in companies whose action demonstrates that a very large percentage of the stock is controlled by a handful of people and FLXS certainly shows all signs of being one of those companies. I cannot predict when or why, but I believe this will sell much higher in the medium term.

      By the way, I am very glad we eliminated the FCP chatter on here. Thanks to all who helped.

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