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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (18827)	3/5/2004 6:08:06 PM
From: hivemind	Read Replies (1) of 78740

Thank you. After posting I also looked at the cash flow statement to reconcile the jump in short-term investments from 6/2003 to 9/2003. I did not see where the additional (roughly) 6 million in short term investments comes from, so I figured it must be mark-to-market holdings that accounts for the jump -- but what would nearly double in only 3 months? Looking at their latest 10-QSB it looks as if their equity holdings may account for this: Note 1. Nature of Business <excerpt only> ESI Investment Company (INV) owns marketable securities, primarily equity securities in August Technology, Inc. and PPT Vision, Inc (PPTV). The value of INV’s marketable securities have experienced significant appreciation in value since the IPO of August Technology in 2000. During May 2002, INV participated in a rights offering by PPTV. As a result of the additional investment in PPTV, the Company has changed its reporting of this investment to the equity method of accounting. See Note 6 for additional information about the Company’s investments and this change to the equity method. --------------------- Notes 6 and 7 : edgar-online.com How accurate and how liquid are these investments? I've got no clue!

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