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

To: James Clarke who wrote (9978)	2/16/2000 12:49:00 AM
From: peter michaelson	Respond to of 78662

Jim: Do me a great favor and remind us when SNH gets close to $6. Thanks, peter

To: James Clarke who wrote (9978)	2/16/2000 7:03:00 AM
From: Wallace Rivers	Read Replies (1) \| Respond to of 78662

I have been, and still am, looking at NKE, but ran across another one in that sector which has gotten killed even more than NKE - KSWS. I know that this is a most fickle business, "white shoe" trends flip flop with "brown shoe", and the hot shoe one day can be next season's dog. KSWS is currently a dog with fleas, but, from a quick glance on Yahoo, it appears to have a lot of the value characteristics we look for here. I will link the Yahoo profile of KSWS, and welcome any comments. biz.yahoo.com

To: James Clarke who wrote (9978)	2/16/2000 10:43:00 AM
From: jeffbas	Read Replies (1) \| Respond to of 78662

Except that Retail stocks are the worst performing group, anyone know anything company specific that has made EBSC another Value Investing mistake. What would it take to improve the sector performance, or is this a problem that will last a long time?

To: James Clarke who wrote (9978)	2/17/2000 12:33:00 AM
From: Ron Bower	Read Replies (1) \| Respond to of 78662

Jim, SNH - Decided to look at it. This section of the SEC 10Q bothered me. > SENIOR HOUSING PROPERTIES TRUST Mariner Post-Acute Network, Inc., which leases 11% of our investments and pays 18% of annual rents, reported a loss of $405.7 million for the quarter ended June 30, 1999 and in October 1999 announced that it did not make interest payment on its bank credit facility and some of its senior subordinated debt. Integrated Health Services, Inc., which leases 29% of our investments and pays 30% of annual rents, reported a loss of $4.6 million for the quarter ended June 30, 1999 and in November 1999 announced that it did not make interest payment on some of its senior subordinated debt. Genesis Health Ventures, Inc., which leases 2% of our investments and pays 2% of annual rents, reported a loss of $1.0 million for the quarter ended June 30, 1999. As of November 12, 1999, all of these tenants were in compliance with their obligations to us. One of our smaller tenants, The Frontier Group ("Frontier"), a privately held company which leases 2% of our investments and pays 2% of annual rents. Sun Healthcare Group, Inc. ("Sun Healthcare") is also obligated under this lease. In July 1999 and October 1999, Frontier and Sun Healthcare, respectively filed for reorganization under Chapter 11 of the Bankruptcy Code. Currently, these nursing homes are being operated by a court appointed receiver. We are negotiating to collect rent, including arrearages of approximately $1.1 million through November 1, 1999, from Sun Healthcare, Frontier or the receiver and to find a substitute tenant or for a possible sale of the properties. Also, we are preparing, if necessary, to operate these properties for our own account until the properties are leased to a substitute tenant or sold to a third party.