| To: Sauron who wrote (1025) | 6/3/1998 1:51:00 AM |
| From: zebraspot | Respond to of 3727 |
| |
Personally, I'm more interested in another Kiewit/Walter Scott off-shoot, CalEnergy(CE). Since Kiewit Co. sold their stake in 1/98 the stock is down from about 40 to 30(it had been in the low 20's briefly, on Indonesian concerns).
Scott(the Chairman of Kiewit and Level 3)recently bought 2.5 Mil shares($90,000,000+) of CE, with personal money, averaging in the high 30's(!). He is still a Director, and they are still based in Omaha.
Anytime you follow Walter Scott into a stock, at a price less than he paid, you do well. I've been down this same road with him on CE(for the prior move from 13 to 42), C-TEC(since a year before the spin-offs), & KIWT (since 11/97). CE might be the low p/e, defensive play we're all looking for in this uncertain market.
I'm still holding on to my core position in LVLT, though. I always wished that part of Kiewit would be available to the public. Now it is. You have to own at least some -- even here. It may never sell at or near "fair" value, you know. If it goes lower, that's good, too --if you're a long term investor who wants to buy more at lower prices. |
