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

To: Madharry who wrote (16781)	4/9/2003 11:57:12 AM
From: Jurgis Bekepuris	Read Replies (2) \| Respond to of 78645

Madarry - Oakmark International and no return in 5 years. Overall, I felt that International Value funds had a very lackluster performance for the last X years. See TBGVX - Tweedy Browne is also respected value family. TDF did a bit better with wide fluctuations, but then EMF did really bad. But then Nasdaq and S&P500 also fell in the last 5 years, so what do you expect of the mutuals? TAVFX is flat, TWEBX is down, OAKMX is flat, CFIMX is down, DODGX is flat, KDHAX is down, even LMVTX is flat - and that's the guy who outperformed S&P500 for 11 years (12?) non-stop! And these are the best of the best value funds. (I know I missed some, people will correct me ;-0))) The real question is: do you have alternative suggestions? Within mutual funds or outside. Seriously. Only please no: "sell in 2000, get back in 2005". :-) And we all know that if we bought MSFT in 1980, we would not be talking about this now. :-) Jurgis - who holds many funds mentioned above.

To: Madharry who wrote (16781)	4/9/2003 1:39:48 PM
From: fmikehugo	Read Replies (1) \| Respond to of 78645

AAPL split 2-1 in May of 2000. But I am the last one to defend the performance of the management, the company, or the stock. All have been wretched. I hold AAPL only because it is a superb vehicle for covered calls. I can't see any potential at all for significant upside in the stock.

To: Madharry who wrote (16781)	4/9/2003 9:55:02 PM
From: Bob Rudd	Read Replies (2) \| Respond to of 78645

Madharry: ACDO - The receivables aren't the key issue. They were purchased & the sellers estimate of uncollectibles was accepted....now it looks like an adjustment to a higher level may be required. If there were fraud, ACDO would be the vic not the perp....but there's no fraud, just an adjustment that will actually help visible earnings in 04 by about .25. The key issue, IMO, is whether Pharmacy Benefit Managers, PBM's like quote.yahoo.com are taking share and will continue to take share from ACDO. The PBM's are generalists offering one stop shopping while ACDO is a specialist offering higher service levels for specific accute diseases. The PBM's gained some ground recently when ACDO's sales force took their eye off the ball due to acquisition integration and other temporary issues. ACDO says this is temporary, that there has been no real change in competitive dynamics. Some analysts aren't so sure. The shares reflect bearish expectations. I'm betting ACDO is telling it straight, but it's not a big bet. ACDO is scheduled to offer 04 guidance early May.