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

To: Paul Senior who wrote (15289)	8/21/2002 11:00:27 AM
From: TimbaBear	Respond to of 78714

Paul, no I don't know of any profitable enterprises selling currently for less than cash. However, when Graham was writing after the end of the depression, there apparently were enough so that he was talking about 100 or so in a portfolio of such companies. If this Bear market is of similar historical proportions, we may still have the opportunity. Companies that were not profitable during the boom times, in a boom industry do not seem to offer much hope to me for anything other than a loss of my investment, regardless of how small the exposure. Since they haven't found a profitable way to conduct business and haven't seen fit to recognize that and sell the business or its assets and return the rest to shareholders, I can only contemplate that the trend will continue until the cash burn forces bankruptcy. I can sometimes consider "unloved", but when it comes to "unprofitable" it must be for some other reason than "We haven't figured out how to give it away and make money" But, like you, I have been wrong too many times to count and could be wrong in this as well. Timba