Wednesday, April 2, 2008

Bookkeeping: Adding FTI Consulting (FCN)

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I still have a huge wad of cash, now that I've pulled in my short exposure and began cutting back on fertilizers... trying to find some more ideas on where to go on the long side. FTI Consulting (FCN) is pulling back today, and quickly fell to its 50 day moving average. Perhaps the "everything is ok trade" is hurting them as it was going up on (aside from execution) potential restructuring, litigation, etc increases in the future. I still think all that is coming to the domestic economy (especially consumer and financial based) - this is just a weigh station in a very long road. Remember, FTI Consulting is the Gallant to Huron Consulting's Goofus [Mar 27: Adding to Huron Consulting (HURN) on Earnings Warning]. I was buying the worst of breed last week (and added yesterday), so I am going to add to this best of breed that I cut back severely on, and begin to rebuild the position. It is still very pricey, so I am not buying a lot, but in the $63s-$64s its a lot less pricey than it was yesterday at $72. There is that gap down there around $57 so I'll wait for a pullback there to really add if/when it comes.

FTI Consulting is now a 0.9% stake up from 0.1%.

Long FTI Consulting, Huron Consulting in fund; no personal position


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