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

To: Paul Senior who wrote (11635)	12/22/2000 9:11:22 AM
From: sjemmeri	Read Replies (1) \| Respond to of 78611

>But (dang!) I didn't buy at 3 so I'm reluctant to put money on it now at 5 either. This is probably the toughest thing for most hard core value investors to get over. If it's cheap at 5, it doesn't matter whether it just dropped from 10 or moved up from 3. Well, it does matter a little. If it just moved up from 3, the momentum investors might jump on it and run it up to fair value quicker.

To: Paul Senior who wrote (11635)	12/25/2000 11:43:48 AM
From: jhelmers	Respond to of 78611

Paul- Let's not forget that I first bought CCK in the mid teens and again at 6 1/2 on the way down. After buying a bunch below four, I have my average down to 4.4. If I had not been a frustrated owner who kept doing research as I lost money on the way down, I would not have had the conviction to make the position material earlier this month. I have found that some of my best investments have started out as big losers on small positions. Also, the CCK position is not a winner 'til I get out and I am hoping for more from here. ALV is a UK auto air bag maker which has gotten caught up in the vortex of auto maker troubles. I like the fact that they produce a high tech product in which they have a leadership position and are gaining market share. It has a relatively clean balance sheet and is at a fairly low multiple to earnings and cashflow. The problem here is any investment may be dead money for a while. Glad to get your input on HABK. The steady insider buying is a positive. If their problems are not terminal, it should bounce after year end. Merry Xmas, john