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Strategies & Market Trends : Value Investing

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To: Bob Rudd who wrote (16713)	3/31/2003 4:23:20 PM
From: Paul Senior	Read Replies (3) of 78662

I'll try a small starter position in VVTV now. Reasonable 1.2x book, no long-term debt per Yahoo, increasing sales, reasonable p/sales. (All imo) I see a Marty Whitman fund may have a small position. A plus and and a minus are that GE owns quite a bit of VVTV. They use VVTV for the ShopNBC it provides. This would be my second foray into VVTV. I purchased this stock somewhere around 1998 when its TV stations alone seemed to me to be worth more than the stock was selling for. The company was in turmoil when it later sold some assets: it had weak management, and there were big concerns by stockholders how management might fritter away corporate assets. I sold my stock for a double or better after it rose on positive expectations. Those expectations turned out to be correct, and sorry to say, the stock moved without me from under $10 to about $60 within 12 months. The stock's now at about $10. Again I don't foresee any similar rise -- those kinds of quick moves are very rare -- but I'll wager the stock has a shot to again (in the next 18 months) see $20/sh (a level it reached in '00, '01, and '02). jmo of course, Paul Senior

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