Foot Locker Inc.  (FL) Trade Now »     Rate FL  -  Discuss FL  -  Add to Watch List        

Morningstar in Canada profiles Lawrence Chin, co-manager of the Mackenzie Cundill American Class fund.

The article mentions two stocks I own:

One is DirecTV Group (DTV/NYSE), which has done well since being bought but has suffered recently. The other is Foot Locker (FL/NYSE), which has fallen in price since being purchased:

Talk about timing. A few days after buying Foot Locker Inc. (FL/US) the company forecasts its first loss in six years and the stock hits its lowest price in 3-1/2 years.

There is some good news.

The company has officially confirmed hiring Lehman Brothers to advise it on selling itself. Foot Locker said in a statement that it has received inquiries from buyout firms, but a company spokesperson declined further comment.

Getting kicked by the stock price so soon after buying the company is no fun. But it's way too early to call this a stomping. ;-)

As stated in my previous post , I bought Foot Locker Inc. (FL/NYSE) on Wednesday and the shares ended the day at $20.87. Foot Locker is the largest special athletic footwear retailer in the US and one of the largest in the world.

The stock has suffered recently because of unfavorable prospects for the industry in general, and because of weak results for Foot Locker itself. I see these as near-to-intermediate term challenges and anyone investing in Foot Locker with a time frame up to 5 years will be rewarded.