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

To: Paul Senior who wrote (11992)	2/8/2001 11:14:43 PM
From: TimbaBear	Respond to of 78507

Thanks for the feedback, Paul. While, indeed, there isn't any long term debt to speak of, I am concerned about the cash burn rate. I didn't read their whole report, but I looked at the financial statements and some of management's discussion(which didn't really address it, which concerns me also), and I didn't see any big non-cash write-offs like excess depreciation or amortization of goodwill or anything like that. Which says to me that they just aren't profitable at what they do. I was hoping I was wrong about it, but I guess not. I am looking at these Netnets from the point of view of having a margin of safety. If the company isn't profitable in it's underlying business, any margin of safety I might feel from it selling at Netnet values would be illusory at best. I guess I'll pass on this one. Just because it might go to 10 sometime is not enough for me, it just might go to zero too. Timba

To: Paul Senior who wrote (11992)	2/11/2001 11:56:41 AM
From: Paul Senior	Read Replies (2) \| Respond to of 78507

fwiw, value stocks mentioned elsewhere on SI: siliconinvestor.com finance.yahoo.com Paul, (I have a small position in esr and a smaller position in vsea.)

To: Paul Senior who wrote (11992)	4/19/2002 2:31:41 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78507

CPCL update: It's still in Curt Jensen's (Marty Whitman's) Third Value Small-Cap fund, according to Yahoo. The stock's been on a tear recently. It's no longer a net-net when some people here started to buy or were adding to positions already held. finance.yahoo.com In spite of its rapid ascent the past few days, CPCL trades now slightly over stated book. It has no long term debt. The stock may be fully-valued or even overvalued though. So maybe a pullback can be expected. OTOH, what I like about the stock is that it's extremely difficult, maybe impossible, to evaluate the true worth of the company now because of its involvement with a presumably important new technology - OLED (organic LEDs). So the company might now, and in future also, trade on its potential, on the dreams of its stockholders, and on generous estimates and speculations about future possibilities. Here I will go with the "ready, fire, aim" school and the accompanying "investigate after you invest" mantra. I've added a little more CPCL to my position today. I don't at all like averaging up, especially after the stock has run up so much so soon, but in this particular instance it's very possible -- I will bet -- that there is still more appreciation to be seen as the stock's story unfolds. That is my hope anyway, unsupported by any facts. Paul Senior