Exploring Overstock's Discount

Stock quotes in this article: OSTK  

It is also worthwhile to read The World Stock Story, written by Byrne. World Stock (a division of Overstock) is Byrne's effort to help artisans in third world countries. This piece clearly evinces an idealistic passion for fair dealing and for not taking advantage of others for profit.

It's fair to characterize Byrne as passionate, opinionated and idealistic. It's fair to call him a maverick. It is grossly unfair and absurd to link him to Dunlap, Skilling and Kozlowski.

Ultimately, though, this may prove to be one the greatest of ironies. Dunlap, Skilling and Kozlowski have gone from widely admired status to positions of scorn and ridicule. In the years to come --- perhaps not on Wall Street, but in business schools -- Byrne may complete the opposite journey.

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At time of publication, Alsin and/or ACM was long OSTK, FLWS and WMT, although holdings can change at any time.

Arne Alsin is the founder and principal of Alsin Capital Management, an Oregon-based investment advisor, and portfolio manager of The Turnaround Fund, a no-load mutual fund. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Alsin appreciates your feedback; click here to send him an email.

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