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

To: Michael Burry who wrote (8319)	9/21/1999 12:04:00 AM
From: Madharry	Respond to of 78835

Sorry can't access tsc. could you summarize? I will look into your buy backs although LSO I remember pretty well, kept meaning to pull the trigger on it but by the time I could have it was up 40-50%.

To: Michael Burry who wrote (8319)	9/21/1999 1:07:00 AM
From: James Clarke	Read Replies (1) \| Respond to of 78835

REITs are so out of favor now that there is no reason I can think of to stretch for return by taking on extra risk with something like Meditrust. Just look for the tried and true - an EastGroup, a Colonial Properties, even though the stocks have held up OK. The dividend is what makes these worth your while - If you start looking for homeruns in real estate land, you are asking for trouble. If you want to take on more risk, go to the hotel sector, and look at LHO or HMT. Just recognize that their dividends are not nearly as secure as those of more conservative property types. JJC

To: Michael Burry who wrote (8319)	9/21/1999 11:23:00 AM
From: Mike 2.0	Read Replies (1) \| Respond to of 78835

Well Mike looks like ANLY is dead money for awhile...check out today's PR. At this point I am concerned about the status of the dividend. I have left VMs with a few people and will post whatever feedback I get.

To: Michael Burry who wrote (8319)	9/24/1999 7:09:00 PM
From: Robert Hoefer	Read Replies (3) \| Respond to of 78835

I may have been early on the REITS, but I agree they are one of the few cheap but solid stocks around. You didn't mention New Plan Excel Realty Trust, which has raised its dividend every quarter for the last 80 quarters (that's 20 years), and I think I read in Value Line that its bonds are the only REIT bonds to have an A rating. Yield is nine percent, and p/FFO ratio is low by historical standards. I also like Washington Reit, but it hasn't been cheap since 1992 or so. I'm taking a chance on United Dominion (UDR) because Value Line likes it and the story looks tempting. Let me know if I have my facts wrong or am doing something silly....! Thanks.