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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (7658)	7/4/1999 11:10:00 AM
From: Steve168	Read Replies (1) \| Respond to of 78763

A classic value investing example. SFLX went below cash/share. The theory is if it went below cash, it is a buy. I did exactly that. Picked up 6000 shares around 3.25, then 4000 at 2 11/16. That happened 1.5 months ago. They announced in merger talks and SFLX is 5 1/2 now, it traded at 6 on the news. Anyone know any stock below book and close to cash value per share now? Thanks, Steve

To: Michael Burry who wrote (7658)	7/4/1999 5:37:00 PM
From: James Clarke	Respond to of 78763

You're right. Something else you had in your screen must have weeded out the parade of overearning cyclicals I usually get from using 5 year ROE data at a time when the last 5 years have been boom times. My screen didn't look like yours. So I went to longer term data - (which incidently isn't easy to get as an institutional investor either.) And as you pointed out, there is still often the same problem. BTW, did you see the article on Nautica in Barrons - that was one of the ones you turned up. JJC