Will Bairnco Turn Into A Comeback Kid?

Bairnco, one of the high fliers of the 1980s, caught the Street's fancy back then as it acquired companies and then spun them off to shareholders. Its stock flew as high as 41 a share in 1987. In the past two years, however, Bairnco has received nothing but the Street's scorn, and the stock now trades at 7 3/8. But of late, some big investors have started buying in. "The stock is now dirt cheap," argues one New York money manager.

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