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

To: Paul Senior who wrote (7956)	8/4/1999 5:34:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 78816

Congrats to the thread. Probably one of the only active threads on SI where one can bet that 100% of its members are NOT suffering from the internet meltdown. According to TheStreet.com, the market is finally being driven lower by margin calls. As Cramer puts, it, it looks like the margined traders have "forgotten" how to sell, and the inexperienced online brokers don't know how to react, creating chaotic margin calls and brewing terror out of fear. This could get really messy. Clayton Homes, Champion making new lows. Stocks that have been falling continue to fall. What would be really interesting is to see when the insiders start buying the internets. mike

To: Paul Senior who wrote (7956)	8/4/1999 5:39:00 PM
From: Allen Furlan	Respond to of 78816

Off subject: For those interested in arbitrage here is a site with news oriented to mergers. newsalert.com

To: Paul Senior who wrote (7956)	8/6/1999 12:02:00 PM
From: John Stichnoth	Read Replies (1) \| Respond to of 78816

Paul, forgot to mention in my last post another Aerospace/Defense company that has some of same look as ALR. I.e., selling at half of book value, making some money, etc. Background summary: Fairchild Corp (FA). Largest maker of aerospace fasteners (rivets, etc.). Has been peeling off non-core businesses. Recently sold interest in a canning operation in Turkey (not a turkey canning operation :o)). Have announced intent to sell parcel owned on Long Island, on which they are finishing development of a shopping center. These two sales will ease leverage, which is high following purchase in April of one of their larger competitors. The slimming down to core activities suggests that they may be sprucing the company up for sale. The stock is controlled by the Chairman. The chairman's son has been taking an increasing role as top manager (now COO). While their net cash isn't too high, they are selling at under half of book value. Don't confuse them with FAF, of course! Best, JS