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Strategies & Market Trends : Value Investing
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To: rjm2 who wrote (11440)11/14/2000 12:21:01 AM
From: James Clarke  Read Replies (3) of 78486
 
Second what rjm said about GTSI. That contract is bonus points. Maybe a lot of bonus points.

And Jeff, with all due respect, when a guy I consider smart says he would not buy X at any price when a lot of X's are 70% off their highs it really sparks my contrarian instinct. I have been very aggressive on retailers recently and have been making a lot of money off them (ANF, SYM, a couple others). In my personal account I shorted Kohls at 60 times earnings against my retailer holdings. I think that I'll be OK with large positions in SYM and ANF against a large KSS short. But even without the long-short, I am still finding retailers that look EXTREMELY attractive. It has become my one of my favorite hunting grounds. I think I might have just found another one with a "duh" valuation.

Reminds me of when Bill Gross of Pimco recently said he wouldn't buy corporate bonds at any price. That's what you hear at a bottom. This guy is the biggest bond manager in the country - nobody's questioning his intelligence, but a contrarian's got to at least think about buying when the biggest guy in the business says he's already sold. And high yield corporates are yielding 14%. I don't buy bonds, but I play this through what I judge to be a diversified basket of lay-up LBOs if the high yield market shows any sign of life. I won't name them, so please don't ask.
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