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Gold/Mining/Energy : SOUTHERNERA (t.SUF)

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To: ogod who wrote (4613)	10/2/1999 2:20:00 PM
From: PHILLIP FLOTOW	Read Replies (2) of 7235

ogod, I think this article from Monday's "Investor's Business Daily" hits the nail on the head. The story is on page B1. It is about the money manager of Victory Value Fund, Neil Kilbane. He says: "There are always plenty of cheap stocks to scoop up... The problem is many of these undervalued stocks are cheap for a reason. "Companies ignored by Wall Street often have sluggish earnings, subpar management and deteriorating fundamentals. As a result, their stock prices can stay depressed for long periods of time, perhaps forever. "Those are exactly the types of 'deep value' plays Kilbane avoids. In fact, Kilbane won't buy a beaten-down stock unless there is some catalyst -- such as a new management team or a positive earnings surprise -- to propel the stock higher. "'The problem with many value stocks is you can buy them too early.' said Kilbane. 'We like to buy undervalued stocks only when investor sentiment is improving. We look for fundamental changes that are already fully appreciated by Wall Street'". Read that last sentence, "analysts have noticed and raised their ratings." PHIL

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