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Strategies & Market Trends : Value Investing
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To: Michael Burry who wrote (7674)7/6/1999 2:27:00 PM
From: Madharry  Read Replies (1) of 78748
 
I continue to like ALSC and added to my position today. It looks like book value before allowing for taxes will be around $20 when the restructure of the foundry investments is completed, the semiconductor business is turning up and the company has new products out. Hard for me to see any medium term downside, unless the foundry restructuring fails to go through. My perception is the company is worth at least $20 now. Although this is not a net net situation it is kind of close because its investments will be monetized by the end of the year and then the company has to hold them for 6 more months before selling them. I am hopeful that the company will figure out a way to spin them off to its shareholders on a tax free basis. Otherwise I think someone could buy the company with its own assets.
BTW looks like the MM is taking DSWL higher again! send me a pM next time you sell mike!
We had an interesting discussion on the thread with the Needham analyst who downgraded the stock then upgraded it a week later. He said that his downgrade was based on a valuation being less than 35% above the market price. After the stock dropped and he raised his valuation he upgraded. Of course with the subsequent improvement in the price of the stock he should have downgraded it again unless he has again increased his valuation of the company. Haven't seen a new downgrade yet!
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