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

To: Paul Senior who wrote (29753)	1/17/2008 2:54:08 PM
From: Jurgis Bekepuris	Read Replies (2) \| Respond to of 78652

Does it mean anything that I look at ABK/MBI and instead of finding a reason to recommend them as I did when ABK was in 40's or something, I think "should I short them"? :) No this is just half-serious. Shorting at this time is highly risky.

To: Paul Senior who wrote (29753)	1/17/2008 3:07:40 PM
From: doug5y	Respond to of 78652

You have to wonder. I've been watching both RDN/MBI for some time now, looking for an entry. At these prices, you're sure going to beat Whitman. I'm thinking even a small position has to eventually work out. But WDIK?

To: Paul Senior who wrote (29753)	1/23/2008 11:44:09 AM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78652

I received Marty's last quarter investment letter yesterday. He stands by his investments in RDN and MBI and rants against the short-term "price to market" adjustments of contracts that companies plan to hold until termination. He does make some sense: if you don't plan to sell the contract/CDO/CDS/whatever, it is not very important that NOW it is worth 50% less than yesterday. You were not going to sell it anyway and you don't plan to sell it now. The important part is really what happens at the end of life: how much did it cost and how much money you got out of it. Anyway, I cannot repeat it better than Marty himself, so go and read his letter. :) Disclosure: I hold both TAVFX and TAVIX and I am planning to hold them for very long time. At least while Marty is alive and grumpy. :)