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Strategies & Market Trends : Value Investing

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To: Michael Burry who started this subject	1/8/2004 6:15:20 PM
From: Paul Senior	Read Replies (2) of 78717

Not a good day for us who are in home building stocks. Long-awaited, long-predicted slowdown in housing might be upon us. Triggered by Ryland's announcement of decreasing new home orders. Odd day for me. While a lot of stocks mentioned here are up (if you own 'em you already know that), I've also got way many that saw multi-point drops. Most are housing related: finance.yahoo.com SPF hasn't been discussed here recently. Rather than sell shares in the housing down draft that seems to be occurring (at least today), I've decided to add shares. On the one hand, I'm uncomfortable stepping up for more now in the $45 range, given that my most recent purchases were 8/'99 when the stock was at $11+. OTOH, SPF has just raised its earnings estimates, and considering the universe of stocks in which to place money, SPF at current price is attractive to me. There just don't seem to be as many bargain-priced issues to invest in in the current market; this makes SPF relatively attractive. (with the caveat that "relative" investing can be very, very dangerous) ------ I see STAR continues its breakout up move. Been watching it for a long time. Guess the long basing period lulled me into inaction. oops. ------------

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