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

To: Paul Senior who wrote (20153)	12/2/2004 10:21:39 PM
From: Steve168	Read Replies (3) \| Respond to of 78525

Several research reports showed that high book-to-market (or low price-to-book) stocks as a group outperformed the market in the last 30 years. Other reports showed that separating the strong BM stocks from weak BM stocks yielded even better results (Piotroski report). I am wondering how many people used this principle in selecting stocks and what are the results. I liked low price-to-book stocks (by intuition) and used that as a primary rule to pick stocks, had some nice results in the last 2-3 years. I would be happy to know the results if you have been doing this for longer time. Any response is appreciated.

To: Paul Senior who wrote (20153)	12/2/2004 11:14:06 PM
From: Larry S.	Respond to of 78525

Paul, TM is profitable, GM is struggling. TM is increasing sales, GM is losing sales. TM is leader in hybrid. GM is still working on it. TM divi yield is 1.28. GM divi yield is 5.1 TM wins 3-1 imo. I've owned TM for about 4 months and plan on holding it for several years at least. jmho. larry

To: Paul Senior who wrote (20153)	12/3/2004 12:51:23 AM
From: Tapcon	Respond to of 78525

it seems to me that going with GM now and NOT betting on TM at current price (i.e ignoring it as an investment) is like betting that Toyota will screw up or somehow begin to lose market share, while expecting that GM can staunch or reverse its multi-year market share losses. Paul, it looks to me that it is not so much betting that Toyota will screw up but rather betting that deteriorating value of US buck will squeeze Toyota margins on existing US inventory and on any assembly parts imported from Canada, Japan and elsewhere. To the extent that GM sells outside US, they should benefit by the deteriorating value of US buck. But FWIW, I can't see how the auto industry looks like a good investment with increasing interest rates on the horizon. Don't these companies only make money on their financing these days?

To: Paul Senior who wrote (20153)	12/3/2004 6:39:54 AM
From: Sam Citron	Read Replies (1) \| Respond to of 78525

Paul, Great. I also like Hyundai. The best way I have found to buy it is through KEF, a closed end fund that sells at about a 7% discount to NAV. Samsung, Hyundai and POSCO are the three largest positions. etfconnect.com Sam