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Non-Tech : BBY -Best Buy
BBY 82.09+1.1%4:00 PM EST

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To: Patric Von Swarengen who wrote (956)12/6/2002 11:45:11 AM
From: TH  Read Replies (2) of 980
 
PVS,

"you started this thread 6 years ago? Wow, you are dedicated."

I did not start this thread, but I wish I did as I would have reaped the reward of 6 years of investment in BBY.

I like the fact that BBY did OK on SSS with a full week less of X-mas shopping in Q3 02. Certainly .3% is not great, but with the current economic conditions this just screams "well run business". Firming up the Q3 02 earnings a bit also helps with the current PE.

I like BBY at this level. At $40 I would not be too sure. It about being able to buy the number 1 in the sector at a fair multiple relative the rest of the S&P.

I expect to see mid-30s within 6-8 weeks, and that is a decent return by any standard.

Wal-mart is a concern, but not a major one. Where is Wal-mart going to put the stuff to compete with the range BBY offers? But Wal-mart may suck some away from BBY on the low end, and I will be watching that.

Good Luck

TH
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