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Oxford Industries Inc. Message Board

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  • pmlljl pmlljl Jun 27, 2003 5:04 PM Flag

    bye for now

    paterson0918: I was very impressed with your last post and went back to read your first post. It sounds like you know what you are doing. I have been in and out of OXM a few times for minor profits but I missed the big move based on TB acquisition. However, I had a very similar experience to yours with Garan. It was an apparel maker with finances and management very much like OXM. I bought it for an average of about $18 and was paid a very handsome dividend for about five years and then about a year ago Berkshire Hathaway bought Garan for $60 per share.

    I think you have good reason to be cautious about the large amount of "goodwill" that will soon be on OXM's books. I simply refuse to buy stock in company's that have material amounts of intangibles.

    Nowadays that and my other requirements leave me unable to find many good selections. I have a few that I like and will hold onto but no new ones. Do you have any other good companies at reasonable prices that you would like to share?

    Congratulations on your good luck with OXM and don't lose the proceeds on some no account company. Keep your standards high because it is a serious mistake to go down market. I know, I went there years ago and it took me a long time to recover.

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    • Thanks for your kind words. Indeed, Oxfords and Garans are not so easy to find as they were 3 years ago. Curiously, or perhaps not, I had started to look at Garan too, but not so early as you did and as you note Berkshire came along.

      My recent purchases have been Circuit City (CC) and Kemet (KEM). The latter is still reasonably attractive, the former has had quite a nice run in a very short time and is getting bit pricey.

      A couple of others that I bought too much too soon, Cable and Wireless (CWP) and Reliant Resources (RR) may be of some appeal too. I have nasty losses in these but plan to hold on.

      Do your homework! Good luck.

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