Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Berkeley Technology Limited (BLKYY) -- Ignore unavailable to you. Want to Upgrade?

To: J. Conley who wrote (429)	7/14/2000 7:33:52 PM
From: J. Conley	Read Replies (1) \| Respond to of 955

At this point, I am not concerned about the institutional selling, which is obviously what has been happening. It could be related to redemptions and/or portfolio management issues that have nothing to do with LDP. That's my best wild guess. I see it as creating the opportunity to add at the present level. It really wasn't that wild a guess, but geez, I didn't know I could phone Heartland and they would spill their guts. FWIW, the following courtesy of Yahoo! board: ** by: leverageking 7/14/00 2:44 pm Msg: 21879 of 21907 I just called Heartland to get an update on their value plus fund. As of 3/31/00 ldp was the largest holding in the fund with 1,871,800 shares, or 9.1% of net assets. As of 6/30/00 ldp is no longer on their Top Ten Holdings list. They do, however, still have a position in ldp, but they could not disclose how many shares. The 10th holding on the list was for 3.69% of the fund, therefore we can conclude that their investment in ldp is worth less than $2.58 million ($70MM x 3.69%). That means they could only have a maximum of 200,000 shares left. Maybe the major selling is about over?! I also asked about the net assets of the fund. They have had major redemptions. The fund had $160 million as of 6/30/99 and it has dropped to $70 million as of 6/30/00, more than half in one year. If ldp was their largest holding at around 5% and the net assets declines by 56%, ldp would be far to heavy of a weighting for the fund and they would have to liquidate some of it. SEC guidelines are to limit any one holding to less than 5%. Plus with that much in redemptions, they needed cash!! This fund specializes in small-cap stocks, with market caps of less than $750 million. I'm sure many of their holdings don't have great liquidity and if they sell large positions, they move the market down. Therefore, ldp, may have been one of their best stocks to sell with out really damaging the performance of the fund. Hope this helps to understand why the so-called "smart money" would be selling this under-valued stock. Thoughts? Count? Apelled? zeligs? ** The good side of this is that I think there were also institutions recently buying, absorbing the shares. Best regards