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

To: Grommit who wrote (12700)	6/27/2001 12:45:10 AM
From: Paul Senior	Respond to of 78748

Grommit, re: PLT, REITS, SCZ. Regarding PLT: Oops, I forgot to search the site thread, and now I see you've discussed PLT here. Looks like nice timing on your buy yesterday (stock popped a bit today). I need to do some more consideration of PLT before I step in. re: REITs. In general they have performed very well, imo. In the sense that for most, their stock prices are at highs rather than at lows. Nice capital gains (plus good dividends) in some that were mentioned here in the past couple of years. For now, I've got BED and MAA on my watch list. (I have no positions in those two.) My difficulty in stepping up to these after I've wrongly passed them buy at lower prices right now outweighs my desire for their high and apparently stable or growing dividends. My mental issue. I will be making a trip to NYC this week to count cranes (and shop and eat in fancy restaurants). If I don't see a construction boom, I may step up and buy VNO. The assumption being that the supply side of real estate there is not being increased. For the demand side, I'll check with my sorta-real estate-knowledgeable relative to try to see if rents are coming down or stabilizing. I like SCZ. Maybe because I've started a position recently and I'm still enamored of the possibilities it has. I'm in the honeymoon stage -g-. Its charm is it doesn't pay a dividend, and it is not trapped by rules that REITs have to follow. Yet, in its corporate body it operates REIT mutual funds, and it owns big chunks of CARRAmerica (office properties), ProLogis (distribution (aside: with a big Silicon Valley presence --oops)), Regency (shopping centers), and Storage USA. Plus SCZ are overseas. SCZ has some interesting value investors - Baupost, Franklin, Wellington, Clipper, Templeton --- geez some of the smartest value investors. Well, most famous anyway. I am hoping they still see value in this stock and that they haven't been in it at its lows so that they aren't just waiting to sell out now to the likes of johnny-come-latelys like me. Paul. not trying to tout SCZ the stock or SCZ as a substitute for REITs. As sort of pointed out by Dale Baker here - I too believe that with SCZ one likely needs to be very patient -- for sporadic real estate deals and gains to occur, be transferred to bottom line, and be reflected in a rising stock price. Whether that will happen and whether I have the patience for it are TBD.