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Strategies & Market Trends : Value Investing
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To: Michael Burry who wrote (7999)8/11/1999 3:20:00 PM
From: Paul Senior   of 78898
 
Two value (imo) stocks I like: BBDC, ACAS: I like the general category of "investment companies." With them, and especially with these two, because they are microcaps with not a lot of history, and because this also holds true for the companies that they loan to and/or invest in (often private companies, so there's not much info. available to the general public) -- it's perhaps prudent to own a package of these "investment companies". I'd say say that an investor ought to have patience- stock performance seems (imo) to come slowly. And earnings can be erratic as the companies sell some of the stocks or options that they hold.

I forgot who else on the thread besides me likes the category, but for that person, here's some info on the two I am buying now:

ACAS: Added to my position after they reported good quarterly earnings. They just now are completing a secondary at $17. (Stock is at 17 this am.) Book value (Yahoo) about $14. No LTD. They primarily loan money to small businesses. 9.7% dividend yield.

BBDC: Started a new position. Stock is going for about 7 3/16 this am. They are investors. They hold $5.7/sh in cash (including about 80c just committed to a new business investment). Book value is about $12.8. No LTD. (These are based on Yahoo figures. Latest SEC Quarterly slightly different.)

-g- JMHO, but these two companies might be better investments now than for somebody to wait for a hurricane to strike NYC so they can short BRK. . . . . Although. . . . one never knows -g-

Paul.
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