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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (25035)	10/18/2006 12:18:10 AM
From: vi2007	Read Replies (2) of 78670

I was a little disapointed in MHCOs earnings although I guess I shouldnt have been. No hurrincances this year versus last and the housing slowdown. But, I also believe they manage this company for the longterm and that may or may not mean hurting short term earnings. I had sold some when it went up last year in the $7-9.50 range and bought back in August at $5.70 and Sept at $5.25. (Nice fills) I compute book value to be $8.59 per diluted share and this will be their 3rd straight year of profitability and their trailing 12 month EPS=72 cents. (Not sure how many quarters now) Been following the company about 7 years now and have made good money doing so. Low PE, below book, low exposure & pinksheets=opportunity. In other news, I sold out of my BAMM recently at about $19.53. Been in that one since $1.56-2.00. My longtime deregistered EDIN is getting bought out for about $1.90. They went dark on me 6+ years ago and luckily I added more in the 40-55 cent range. Also bought some arb shares at $1.80-1.81. (First time I have ever bought a stock strickly for the arb opportunity) AWX is another longtime position thats finally acting well. Around $7.50, my last buy was just over $2. Sold most of my GIII which is a triple from my last buys less than 2 years ago. Incurred a total loss apparently on ROW which I was betting might make a 5-6 bagger if they didnt go bankrupt. I was wrong. Still holding SPOR...not quite sure what to make of it. Zeff took a big position and since then hasnt done anything. I havent been finding much worth buying lately. Maybe I am just more conservative now that I am no spring chicken and dont have regular income coming in. I added to FSP a few months back and feel pretty good about it. Oppenheimer came out with a $24 target, continued insider buying, no mortgage debt and a 6% yield. Ive been lurking for sometime. Some might remember me under prior monikers. Glad that bruin guy was banned. He was ruining the board. Oh, had a small position in PMTR since about $1.16, they are getting bought out at $4.63. Stupid me had a limit order in and got taken out at $4.05. I note that the CEO of STRZ has been a continued buyer. With their consistent dividends of the past few years, I speculate that he cant find a higher yielding place to put his money so I added some a while back on a pullback to $7.51. Good to be back. RJM

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