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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (67894)	9/19/1999 2:46:00 PM
From: Freedom Fighter	Respond to of 132070

Ike, I follow my companies on regular basis. Mostly I just want to see if they are making any progress. I also follow other companies in the industry in a effort to learn more. My methods differ from most analysts on Wall St. and most other investors for that matter. I'm really not all that concerned about quarterly reports or short term developments. I rarely have any idea what my companies will earn in any individual quarter. I also don't have any industry specific contacts that might give me a clue. I fully realize and understand what Wall St. is doing and how they might react to specific news, but I don't change my views or actions based on what I expect theirs to be. Rather I try to exploit what I believe is a very short term oriented and flawed method. What I am doing is viewing a company as a sort of investment vehicle that has a certain amount of capital invested and a business position that will allow it to earn a certain return on that capital over the long haul. So I am trying to estimate that business position, the return on capital, and its risks. If I can't, I pass. I then try to place a value on the normalized earnings stream, real cash generation, risks, balance sheet, etc. That usually puts me in out of favor industries. Sometimes prematurely, but that's OK. Wayne