Lee Eugene Munson and Patrick Kirts analyze paper companies. Published on Seeking Alpha

At Portfolio Asset Management, we love a good fire sale. However, we don’t want to get stuck holding the bag for an industry that is going broke. Remember, you can’t live under a worthless stock certificate. Last week on CNBC we were asked about the casual dining sector. Our response was that the only thing on the dollar menu was the price of the stocks, some of which will go bankrupt. The same thing has already happened with the paper sector. On Friday the 13th, the American Forest & Paper Association showed an unprecedented decline of 25.3 percent in January 2009 from a year ago. Smurfit-Stone went belly up last month and others are on their way.
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Tags: American Forest & Paper Association, Domtar, International Paper, IP, packaging corporation of america, Paper, PKG, Smurfit Stone, UFA, Wal-Mart, WMT