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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (4267)	6/16/1998 2:06:00 PM
From: B.D.	Read Replies (4) of 78740

I'm curious what the Value Investors in this thread might think of Peapod (PPOD) currently way down at around $4.50 a share. The company has about $3.00 a share in cash or marketable securities. Peapod is the leader in online grocery orders / deliveries. It's been around since 1989, and is not an "internet stock". There is a lot of confusion (or, more bluntly, ignorance) about this stock --- something I like a lot because it's scaring off a lot of people. But the value is still there. The company is in the middle of a transition to a warehouse-based business model, the results of which should start appearing in Q2/Q3 of '98 but more fully in Q4'98 and Q1'99. I own some PPOD, wish I owned more. I think buying below $5/share is a fairly good bet. I would be very surprised if the stock doesn't return to $15-20 in the next 18 months.

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