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Strategies & Market Trends : Value Investing

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To: Proton who wrote (1420)	6/26/1997 9:54:00 PM
From: Ron Bower	of 78753

P, After a quick review, I sure do understand your situation on WHX. I'd say the government has been ignoring this one when they talk about how great things are going. Union strike for 8 months, unfriendly NLRB and judges, EPA on their back, etc. etc. Lose $4+ and still have a BV of $28 on their $8.00 price. Kind of reminds me of Chrysler years ago, then again it also reminds me of Fruehauf or International. Ruins one's faith in value investing. Hold is what the analysts are saying and it sounds right for long term- then again, there's too many good places to put one's money in this market. I can't see it going down any further, but who would have thought it would be this low. Funds have bailed because of short term prospects. My read between the lines is that management has somewhat given up. If the future holds more losses over long term, I think I'd dump and look for something with a better future. IMO it will take profits for price to move and I don't see any in the short term. I know you have likely made these same arguments to yourself. Just responding with my 2 cents and my advice is seldom worth that. Ron PS How do you make the 'square' sign? Love it.

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