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

To: debrahaugen who wrote (9661)	1/16/2000 3:07:00 AM
From: James Clarke	Respond to of 78673

DebraHaugen - I take it from your screen name that you may be one of the few women on this thread. If so, welcome - I have never understood why this thread has been so overwhelmingly male. Thank you for the detailed post and hope to hear more ideas from you in the future. You clearly have a lot to contribute. To have put 60% of your portfolio into a stock eventually taken over by Charlie Munger at a higher price tells me I want to hear more from you.

To: debrahaugen who wrote (9661)	1/16/2000 8:59:00 AM
From: LauA	Read Replies (2) \| Respond to of 78673

Deb - Thank you for putting this deal into context. Nothing better than to demonstrate facts flying in the face of reason. I do believe that these two guys understand technology better than most of us. They understand how technology will change the way business will be operated in the future. This thought was driven home to me at the Wesco annual meeting last year. I sat next to Lou Simpson, who lucidly described how GEICO was going to buy market share, and later harvest their economies of operation in the auto insurance market. (Concepts of direct distribution is very similar to what is talked about by the Barron's Roundtable beginning this weekend.) The way you describe the CORT fight reminds me of the old adage "when the elephants fight, the grass gets trampled". I guess that one take-home message might be to identify great businesses, and then be willing to wait patiently with the bat on shoulder until the pitch (price) gets so fat (skinny) you just can't lay off. And another take-home lesson might be the very real risks of merger arbitrage. Lau