To Sawman:I am considering buying shares in UAM. Randy Befumo's Evening News article on October 31, 1997 said that the stock is valued at 1.25% of assets under management, compared to 2.0% or more for other asset management companies. The stock is a holding of the Yacktman Fund. The company has a home page at www.uam.com. UAM's philosophy is just like Warren Buffet's Berkshire Hathaway: UAM buys other companies, letting the management of these companies stay on board. The acquired companies keep their autonomy. UAM has strong operating cash flows which are used to buy more companies and to buy back shares. UAM went public in 1986 with $13 Billion in assets under management. In 1996 they had $175 Billion assets under management (annual compound rate of growth of 20% in assets under management, 22% in revenues, 24% in net income, 25% in operating cash flow, 19% in earnings per share). -The Dripster.
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