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

To: James Clarke who wrote (9663)	1/16/2000 4:49:00 PM
From: jeffbas	Respond to of 78673

I have always tried to buy growth at a value stock price -- close to book value and the like. That has led me more often than not to busted technology stocks (like XICO, my largest holding thanks to your last sentence), where there was some sort of problem, with the trick being to determine whether or not the problem was temporary. Still, I have tended to think I was buying a value stock versus a growth stock. The idea that I was buying a value stock (which might or might not be a growth stock) versus a momentum stock is interesting. I personally think of it more in terms of buying high valuation versus low valuation. For example, EBSC is clearly a low valuation stock, while MSFT is a high valuation stock (like the "nifty-50" 30 years ago), but not necessarily a momentum stock. For me, low valuation does not always mean a traditional value stock. What I really look for in an investment is something that catches my eye and leads me to give it my highest accolade "the stock is mispriced". An example of a non-traditional favorite category of mine might be a company which has had non-fatal problems and a depressed stock but has attracted new first rate mgmt investing significant money in the company. (Nearly 50% of my current holdings have that as one characteristic.)

To: James Clarke who wrote (9663)	1/18/2000 5:56:00 PM
From: Allen Furlan	Read Replies (1) \| Respond to of 78673

James, attached is a 13D posting on cht. Sam Zell trusts are adding to their 50% position through open market purchases. Stock recently bounced off 5 year low. My uninformed guess is that Zell purchases may have been reason. We love the chart house in Annapolis but that is not reason to initiate position. Your insight would be appreciated. newsalert.com

To: James Clarke who wrote (9663)	1/18/2000 10:38:00 PM
From: Archie Meeties	Read Replies (2) \| Respond to of 78673

"The best value investments are the ones that turn into "momentum investments" for somebody else." That's about to happen all over the energy universe right now, and there's plenty of value left and hidden. Everybody tired of me pounding the table about this? I tried the thread out some conservative choices - SEI, PETD a few weeks back - not a peep. Those have been the laggards in the portfolio recently. GOU - it's just that easy. I think it's a mistake to exclude cyclics from this thread. The resurgence of Asian economies will continue to benefit commodity prices across the board - base and precious metals, energy, lumber, etc. Silver, anyone?