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

To: LauA who wrote (8949)	11/16/1999 3:30:00 AM
From: JRH	Respond to of 78627

You might also try this site: bestwebbuys.com Gives tax, item price, shipping information for books etc. I think I agree with all of your assessments on Amazon. Good luck to all shorts. I originally bought LMVTX in 1996 as my first investment freshman year of college. It has performed well for me, and I actually have withdrawn 52% of my principle investment. I have been questioning for so many months what the heck Miller is doing, particularly with AOL. Perhaps it is time to take the rest off the table. It is hard to do though for something that has performed so well. At my age of course, I also do not really have enough assets to make a diversified portfolio with stocks of my own choosing (without incurring large trading costs percentage wise). I bought LMVTX because I liked the original top ten holdings at that time, particularly Dell computer. Managers do not typically outperform for more than a decade and Miller's performance has been driven by two stocks in particular: Dell and AOL. Furthermore, it seems that of all the mutual fund managers, statistically you will have 0 to 3 that will outperform the market every year for 10 years. Lynch was one, now Miller is one. And Buffett is the best investor because he knows the financials of every company on the NYSE in his head. Lets say Buffett's knowledge is equal to ABCD. Four analysts of lesser knowledge may have A, B, C, and D. But collectively in group discussion I don't think they could come to better conclusions than Buffett on his own. Besides, you have to multiply ABCD by E (Munger) :) JRH

To: LauA who wrote (8949)	11/21/1999 3:15:00 AM
From: Grommit	Read Replies (1) \| Respond to of 78627

The mall of the future. Thanks for the ROBOT link. I just bought my first books on the web. Your link found the best price for me and the price beat AMZN by 16%. Each book was cheaper and S&H was also cheaper. Total with shipping: AMZN - $54.84 alldirect.com $46.31 I think there is plenty of customer inertia involved and people will buy habitually from a known web-location. Also AMZN had more a better site in many ways. But, as you all mentioned, it is easy for cheapskates like myself, armed with a cyber-robot to comparison shop and move to another webstore. I was most amazed that the internet price with shipping was lower than the publisher's suggested prices on the book cover. This is either a short term subsidy by the web-business or it indicates more trouble for brick stores than I understood. Any comments?? I always assumed I would be paying for the convenience of shopping on the web by paying extra for home delivery. We pay extra for pizza delivery.