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

To: James Clarke who wrote (11894)	1/17/2001 11:03:43 PM
From: TimbaBear	Read Replies (1) \| Respond to of 78628

Well James, Thank You! What a case of approach/avoidance here! I had started to respond to your post with facts and figures, had rechecked the filings to verify my numbers, had listed all the assets and their corresponding discounting, had listed the liabilities as well, and was doing any calculations manually(with a calculator, rather than letting the spreadsheet formula do them)and I got near the end and discovered my manual answer was far different from my spreadsheet answer. After going through the spreadsheet formulas involved, I discovered the error, corrected it, and got the corrected results. You are right. TSCO is not a NetNet, neither is MTCH, in fact of the list I posted last night the only two that still qualify are CVR and CNET. It seems as though one of my formula changes resulted in a step of the calculation being skipped, (the one where the liabilities get subtracted)and the results then reflected net discounted asset value per share only, rather than NetNet value. It seems I now own two stocks that I wouldn't have purchased had they not been NetNets. You don't know how impressed I am with myself about that! These are good companies, and have passed a lot of my other screens to get to this point, so I don't think I'm in any great danger of losing my investment, I just don't have the margin of safety I thought I was buying. I am surely glad that you took the time not only to look at the numbers, but to post them back to me. I am red-faced, but I'll get over it. Timba