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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (5120)10/9/1998 12:27:00 AM
From: Ron Bower  Read Replies (1) of 78565
 
Paul,

An opinion. The market corrected because it was overvalued. It corrected more than the hedge funds and margin players anticipated and they are now being forced to cover their positions. This is adding to the freefall, particularly on NASDAQ issues. Add some investors wanting to lock in profits by selling or withdrawing from funds and you end up with equities selling under value.

I would not buy any company with debt. IMO Banks will be tightening loan policies and note renewals will be hard to get. They will be pressuring borrowers to reduce loans because of declining asset values. Look for well managed companies with strong cash positions. Avoid companies that have been expanding thru acquisition because they now have paid too much.

JMHO,
Ron
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