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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (14261)	10/6/2000 12:11:05 AM
From: MAELING	Read Replies (1) \| Respond to of 18998

Pinko, someday I'll teach you about value traps. There's a reason that CLD and CRG show up on screens - Mr. Market assigns a big discount to byzantine corporate structure that appears designed to obfuscate self-dealing. Mr. Market tends to sneer at small players in an industry sector that is throwing too much capital at a service business that produces a commodity product with few barriers to entry. These companies are priced below their cash value because during the past couple of years management has not hesitated to have the corporation buy out the personal investment of management and friends. Andrew swallowed Cotter's patter in a big way, and is trapped. He couldn't sell now if he wanted to. Cheers, Maeling

To: Mr. Pink who wrote (14261)	10/9/2000 11:56:06 AM
From: Andrew	Respond to of 18998

80% of book and 40% of book are both discounts but the real key should be on deployment of capital and likelyhood of growth in book. From that discounts find a way of narrowing. Since the 94 earthquake and wiping out of the piece of crap thrift, CDL has been a few property asset play. The real change just occured with the redeployment of the bulk of the assets into the cash flow producing theater assets with the asset value of owned (or call optioned) land underneath. biz.yahoo.com