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REX American Resources Corporation Message Board

  • boar211 boar211 Feb 23, 2004 5:27 PM Flag

    book value

    Book value is $15.06 but the market prices the stk @ $12.70, over a 15% discount. Balance sheet shows no goodwill or intangible assets so either the market knows other valuations on the balance sheet are inflated....or...perhaps the market is betting on continued stagnant per store sales figures. Actually the sales are dropping if one considers the $428million sales by the 252 stores open now vs $442million by the 199 stores in 1995.
    The more I look the more I wonder why I ever considered this company.
    boar

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    • -But it could also mean that the market is just plain wrong as to the prospects of RSC.
      I bought this stock in Nov. of 2002, and less than 3 months later, I sold it for about an 80% profit. It then proceeded to go down, or sideways until now.

      Question: Was the market correct in Nov. of '02, or three months later, or now?

      -Don't let the market do your thinking.

      Do as value investors do, buy cheap when Mr. Market almost wants to give the stock to you, and sell when investors and Mr Market wants the stock more than you do.

      -And don't spend endless hours debating a stocks' worth.

      If it's cheap buy it, if it's expensive stocks you you want, buy CSCO, or Oracle, or MSFT, or GE. The market is very capricious, and at certain times, no logic at all.

      These are a lot more expensive stocks, so go there; but also remember this: "In the short term, the market is a popularity contest. In the long term, it's a weighing device."
      Benjamin Graham

 
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