Prudent Bear Fund (BEARX): contrarian investing Message Board

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Pastimes : Prudent Bear Fund (BEARX): contrarian investing

BEARX 4.100

-1.0%

Nov 26 4:00 PM EST

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To: Peter V who wrote (312)	8/29/1998 11:36:00 PM
From: Bonnie Bear	Read Replies (2) of 793

Abby is right. According to the Dr Yardeni (fed) model, stocks are, on the average, selling where they're supposed to be....this means if you exclude the bloated nifty-fifty, the rest of the market is ridiculously undervalued. at least 25% of the market is selling below book value, I can find lots of stuff with more treasuries and cash on their balance sheets than price per share. There's a risk here of a meltup if the M&A guys launch into a new wave of hostile or friendly takeovers. Certain sectors: utilities, REITS and microcaps- are at equivalent valuations not seen since 1974.

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