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

To: Wallace Rivers who wrote (8212)	9/11/1999 8:40:00 AM
From: Q.	Read Replies (2) \| Respond to of 78791

Homebuilders LEN, DHI and CTX are looking cheap now. Really out-of-favor. LEN, for example, is trading at a p/e of 6.4, compared to a previous five-year low of 7.2. Yet the companies are in good shape financially. Here's a table I made: p/e p/b debt/equity LEN 6.4 1.1 0.9 DHI 6.3 1.2 1.3 CTX 7.2 1.3 <1 I computed debt including short term notes. CTX is not a pure play: its financial services division accounts for most of its debt, and if you exclude that, the debt/equity for the homebuilding part appears to be considerably below unity. I own LEN, and I'm looking to add to the sector. See the discussion by analysts for this sector in the next post.

To: Wallace Rivers who wrote (8212)	9/11/1999 12:21:00 PM
From: Paul Senior	Respond to of 78791

Wallace: Some thoughts/notes on toys. I'm not much of a toy shopper, toy buyer or game (electronic/computer) player. I don't particularly follow these businesses. But here's what I see: Electronic game companies are at, or approaching, new highs. Eidos (EIDSY) - about 66, up from about 10. Lara Croft expands to cartoons, clothing Electronic Arts (ERTS) - 76, up from 33. Per Yahoo, that's 30x Mar. '01 earnings. All 14 analysts rate it a buy! Midway Games (MWY) about 16, up from 7. From their 9/9 press release: "With four titles at launch and a fifth on the way before Thanksgiving, Midway is supporting Sega Dreamcast with more titles than any other third party publisher. " THQ Inc. (THQI) - about 32, in a yearly range of 13-34. PE about 14 per Yahoo. Jakks Pacific (JAKK) - 36 in a range of 7-36. "Action Figures" (i.e. Wrestler dolls) for boys. Play By Play Toys (PBYP) - about 4 ½ in a range of 1 to 11. Very interesting to me. Was on my watch list as a value stock. Book value about 9. A real microcap. Stock was steadily dropping, dropping to about 1 two weeks ago. Looked like very iffy investment or business. Then, they announced they got a license for Pokemon products. Stock shot to 11. Toys R Us (TOY) - 15 in a range of about 13-24. Hovering around book value. Market cap $3.6 B. eToys (ETYS) - 53 in a range of 28-85. Market cap about $5.0B., psr 48.0. (As I've posted before, I've got positions in TOY, MWY, and THQ, and (-g-), I've got a negative attitude on eToys )