Tuesday, September 27, 2005
Up about $4,000 today largely due to a nice move in FCPO. What's a pig but isn't? Answer: Fresh Brands, which operates supermarkets primarily under the Piggly Wiggly banner. Okay, so the Wiggly One is not exactly Wholefoods. Indeed, it's the antithesis of Wholefoods. But the stock is extremely cheap. While WFMI trades at 2 times sales, FRSH trades at one twentieth times sales. Yes, WFMI is best of breed and FRSH is not. But with the exception of truly distressed companies that are on the verge of bankruptcy, EVERY stock is attractive if the price is right. And FRSH is just too cheap to ignore at these levels. I'm in for 1300 shares.