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Strategies & Market Trends : Value Investing
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To: Michael Burry who started this subject8/25/2003 8:02:10 PM
From: Lazarus  Read Replies (1) of 78702
 
added a few more WSTD today...

doubt that this would be of interest to most here but i have made very good $$$ in penny stocks. believe it or not .... there are some value plays out there. i am especially fond of certain gold and oil penny plays. today i sold 1000 shares of LITS [purchased at .03] to make my buy on WSTD. my 25k order was not filled.

WSTD has less than 10 million OS and 3 insiders own about 41%. its an old company with old-timers at the helm. the resort[shich the company is a major shareholder of] does about 10 million per year in business: snowking.com

they also have some oil revenues.

i dont think the assets are shown at fair market value --- IOW is suspect they are worth considerably more. outlook for bookings is favorable.

it does seem that when they make $$ they end up spending it -- right now they are completing doing capital improvements [per filings] upgrading sprinkler and alarm systems.

the market cap at .02 is around 200k and looks cheap to me. downside risk for the long term penny player is minimul.

i estimate the float at around 5 million -- and the company has 3500 shareholders.

if i were ever going to visit the place i would call one of the directors and tell them im a shareholder and ask for a discount. would not surprise if they gave me one either. ahhhhh.....the pride of ownership :)

Lazarus

ps --- traded out of GM and MON but may go back in --- no complaints on a profit though.
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