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Strategies & Market Trends : Value Investing
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To: Mao II who wrote (14723)7/2/2002 1:18:39 PM
From: Paul Senior  Read Replies (2) of 78704
 
I'll jockey some funds around on another down day and with the broader market looking even worse. (My screen is mostly red.):

I'll takes profits with and trim back my small position in AKZOY. No good reason - just antsy. I'll take small profits and close my position in MRD. I'll take a small loss and close my exploratory position in GBX. I'll start to take some profits with BL (selling 1/5 my position). Not on fundamentals - it's just hard for me to hold on in this market.

Recently I've been buying - and have been wrong on - cable companies. I'll add to my involvement in this sector now by starting a position in Buffet's/Simpson's SJR. I'm assuming they're still in it. In which case my entry point is lower than their purchase price (assuming they bought in the open market).

I'll add to my losing position in AMR. Nobody likes these airlines, including me. However, at a price which is now below the 9/11 area lows, I will assume that if business prospects aren't worse than what people expected right after 9/11 (and those prospects might indeed be worse), the stock should be (but doesn't have to be) near its lows.

I'll add to my losing position in AOL. Somewhere around here - but I don't know where - Time Warner could be worth the stock price - assuming there's not too much cockamayme accounting and the debt isn't overwhelming. Seems to me that this behemoth company might still be a powerful force going out 10 or 20 years. Maybe the company can regain investors' favor within the next couple of years. Maybe I can hold on that long.

finance.yahoo.com

Paul Senior
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