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Strategies & Market Trends : Value Line Investment Survey -- Ignore unavailable to you. Want to Upgrade?

To: KevRupert who wrote (101)	5/8/2001 7:27:17 PM
From: KevRupert	Read Replies (1) \| Respond to of 219

OT: Books, I'm reading "The House of Morgan" by Ron Chernow. I should have read it 10 years ago, but all well. I read Mr. Chernow's "Titan" -- the story of Rockefeller. Mr. Chernow is a fantastic writer. Great books for anybody interested.

To: KevRupert who wrote (101)	5/8/2001 8:13:37 PM
From: EL KABONG!!!	Read Replies (2) \| Respond to of 219

ad, Actually, I've been playing it defensively. New capital is 100% in cash. Though some of those tech stock prices are tempting compared to where they used to be, the valuations have actually gotten much worse as earnings continue to decline much faster than per share prices. I still hold CSCO (at a slight loss now), INTC (still profitable, since the majority of these shares date from the early '90s), AV (LU spin-off, inconsequential holding), LU (a healthy tax write-off, if I don't join one of the expected class action lawsuits for the mis-information/dis-information that many investors feel was offered as forward "guidance"), and ROST (actually making money on this one as I tend to "back up the truck" when the share price drops into the lower teens). The investment club is doing well. We lost money on LU/AV (sold the combined holding for a tax write-off in December), our CSCO is underwater (but not too badly), and making some money on the rest (AMGN, APPB, APOL, BKS, INTC and WBB). WBB was sold this week to Pulte homes, so we get a two-bagger plus some for holding less than 2 years. APPB is just cruisin' along like nothing has happened to the economy. We took some profits in AMGN this past December (against the LU/AV tax write-off), so the remaining holdings are in essence "free" stock. In the past month, we added more shares of APOL (good long term hold on this one) and bought some JNJ (stock has about a 13% revenues/earnings growth rate; including the dividend we approach the 15% magic number that would give us a two-bagger in 5 years, which is what NAIC members strive for; nice defensive play as well should the market re-tank from here). All in all, the club's portfolio is currently rather healthy considering the overall market decline of the past year. I've communicated with many other clubs that are currently drowning in tech holdings, where their hope is that the market will recover to previous bloated levels. (Bad mistake in my opinion, but you can't convince some people to move on and don't look back...) Looking at your holdings, Phillip Morris has done much better than I ever anticipated. I wish I had bought some last year when everyone was afraid of the lawsuits. PEP? Is this the bottler or the company itself? Hmm... Stupid question, as PepsiCo has to be in the S&P 500 already... I think I read on Motley Fool today that the bottler was added to the S&P 500 today. Not sure though, because I was in scan mode and didn't read the entire story yet. What's the bottler? PBG or something like that? MSFT is doing well, though I don't like the stock at these levels. I guess if I ever want to own it, I'm going to have to pay the premium to buy it. DUK... Duke Energy... I liked it a lot better when it was cheaper. <g> PE is still relatively low compared to other energy companies, but I still worry that California ( or the utilities) will default on much of the accumulated debt, and many of the suppliers will be restating old filings. I see the energy stocks dropped a bit on the news of the new windfall tax law that California just passed. Well, this is my last month as treasurer of the club, and now I should have ample free time to get back into stock research, which is my favorite pastime. Nice hearing from you again... KJC