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Strategies & Market Trends : Value Investing

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To: LauA who wrote (9791)	1/29/2000 1:56:00 AM
From: James Clarke	Read Replies (3) of 78476

I admit I was wrong on USEC and now you ask me to "revisit my wrongness"? Tough crowd. I missed one big thing. Perhaps the biggest thing one could miss. The fact that the product is a commodity whose price could fall - and it did, and that their costs are fixed. I sold about 75% of my USEC holdings today. Maybe that means I capitulated and this is the bottom, or maybe it doesn't. The stock is cheap, but so are a lot of other stocks with a future. Big mistake - this was my Waste Management, Albertsons, Service Corp that other value investors fell into the trap on. We all had one last year. And if we only had one, thats pretty good. Today was brutal on stocks, but still orderly which tells me this is far from over. The bond and currency markets were wild today - that makes people think about hedge funds and banks might have some problems, which might lead to more selling. Whether buyers emerge Monday morning is going to be interesting - we closed near the lows today. Both Mike and I are looking for one thing - a Friday like this followed by an 800 point drop in the Dow on the following Monday. You still looking for that, Mike? I am.

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