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

To: rjm2 who wrote (11657)	12/28/2000 11:20:06 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78534

Re: net-nets. R, you are just too tough for me. As I say: I would like to believe - but I'm not quite sure - that I'm buying these net nets because they fit a model and are part of a package of net-nets. You got me, They fit the financial model but not my mental model. Man, some of these net-net stocks are cigar butts that are just sooo difficult for me to pick up. Doesn't mean they're not good or great investments, just that I'm a little weak here in buying and holding such micro micro caps. I'll put JLMC on my watch list. They're in the bridal gown biz., and they've generally been profitable. They may possibly be somewhat recession resistant. Lots of cultures demand expensive weddings -- it's a cliche, but some folks in some cultures (and we've got such cultures in this diverse country) face strong societal pressures to hold an expensive wedding, even if the family has to go into debt to do it. The giant in the industry is David's Bridal. And if I recall correctly, undervalued also for quite a while until finally taken private (at a nice profit to patient value investors). ROSD - I just can't right now go for a one-store, wall covering place in downtown Toronto unless I understand more. They've been in business a long time, maybe they've got hidden assets (real estate?) or maybe they're a similarly good business like Mr. Buffett's Furniture Mart. I do not know. Okay though, here're two for you: IDTC with $30 sh. cash, very little LTD, selling for about $20. Imo, they very possibly are going through some, maybe all of this cash, -- looks to me like a risk with IDTC is that it's a cash-in-search-of-a-business proposition. AWX- Is not profitable now, but Chairman picked up 168,000 sh. @ 3 in open market in Aug., and other insiders have bought this year @5. Net-net AWX trades for about 2 5/8 today. (I have positions in both these stocks), Paul S.