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Politics : Ask Michael Burke

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To: Joan Osland Graffius who wrote (68822)10/7/1999 8:02:00 PM
From: pater tenebrarum  Read Replies (1) of 132070
 
Joan, thanks...apparently TIE and RTI are the only players left. the short position in TIE resembles that of RTI. somebody doesn't like these stocks<g>.

i recently bought into another completely out-of-favor group, the steel stocks. if you add up their cash and the scrap value of their assets you arrive at figures higher than their current stock prices...it's amazing. they trade at 1/3 of book...

i'm currently compiling a list of severely beaten stocks in various industries that might be worth investing in once the stock market has had a washout. as a matter of fact many stocks have already suffered through a full blown bear market. the only reason why i'm not really committing myself yet is my suspicion that once they high-flyers crack, the undervalued sectors will become even more undervalued.

i suspect that the next bull market may well be led by value initially, but that's of course just a guess at this time.

hb
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