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

To: Mark Adams who wrote (12099)	2/22/2001 3:37:28 PM
From: Kapusta Kid	Read Replies (2) \| Respond to of 78466

I need a short to show me what I'm overlooking I'm not a short, but I agonized over IDTC before passing; instead, I took an entry position in LMG.A (AT&T Liberty Media Group) for my wife's IRA. Some say John Malone has lost his touch. I'm happy to invest alongside him. I got interested in LMG.A because Wally Weitz believed the LMG baby undeservedly got thrown out with the telecom bath water. FWIW, Malone owns 10% of IDTC. Of course, he also bought a big stake (although on the cheap) in Priceline.com. Good luck.

To: Mark Adams who wrote (12099)	2/22/2001 4:27:58 PM
From: TimbaBear	Read Replies (2) \| Respond to of 78466

I'll wait and do an updated analysis on CEGE when the new 10Q is filed. Like I said in my previous post on this issue, there will be tax benefits from writing down the value of marketable securities and I want to see the net impact before changing anything. Remember that this is a research company and will often have losses because of that. As of the last 10Q CEGE was FCF positive. I think there is huge value in their cancer vaccines that are in various stages of clinical trials. I'll play the short advocate on IDTC. To me, they have a negative NetNet value of -$3.04/share. I don't buy companies with negative NetNet value, especially in a hostile market. Although they show a positive net income on the income statement, when non-cash and non-operational revenues and costs are adjusted for, they are FCF negative. So they are losing money at what they do, and have a negative NetNet worth. In this time of so many stocks getting hammered, I think there are better, safer, employments of investment capital for my dollar. All of this is one person's opinion and no investment decisions should be based on that opinion because it could be totally incorrect as it is not prepared by a professionally trained investment analyst. Timba