May 16, 2007 –
Today I bought ACAS. Market Cap is > 2billion. PE is under 15. PB is 1.51 (my requirement and Benjamin Graham's is 1.5). A/L is 2.0. 5 year growth is 62.5%. The CEO is the founder and has held that role since its inception and introduction to the NYSE. He is also the largest private shareholder. However, it took great effort and research to find a company worthy of investment. What I see over and over again in my daily research are great companies that are simply overpriced. Doing my best to be a true value investor, I refuse to caught up in the insanity. I have a few more companies incubating ... all my requirements are met except for the price so I continue to research and wait. I don't care when the market falls out because whenever it does, I'll be ready. In the meantime, it was nice to be able to find a good buy today because I haven't found anything for a while that is affordable. Let someone else pay Nieman Marcus prices for TJ Maxx ... I'll be sitting on my pile of cash waiting. [more]
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