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

To: csm who wrote (2462)	11/15/1997 1:19:00 PM
From: Scott Mc	Respond to of 78627

Re Buffet, 2 things which are never mentioned about him are 1. He essentially made tons of money from OPERATING a high return mutual fund. 2. He is extremely cheap, he used to stay in a motel over a store when he went to visit Ben Graham to save a few bucks when at the time he would have been a multimillionaire. There is a book out called the millionaire next door, doing sampling of wealthy people in the US and it breaks millionaires down by their background. Apparently 2% of the US population is of Scottish heritage, however 10% of the millionaires are. What this says, is not only do you have to be a smart investor, But CHEAP(Careful or Thrifty is more politically correct).. Scott

To: csm who wrote (2462)	11/15/1997 1:37:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 78627

Stuart, Actually, I brought up BLDG here back in late 96 or early 97 here. We discussed it some. I see its virtues, no doubt, but someone else I think pointed something out that helped me decide not to invest. It's hard to remember. I'll have to go back and scroll through the thread posts when I have time to see what was written. I still track it and it has been in my basket of potentials for a long time. Good Investing, Mike

To: csm who wrote (2462)	11/15/1997 5:51:00 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78627

C. Stuart McNair: re BLDG. Yes, stock may be undervalued. It was recommended in Better Investing Mag. 7/97 at 32. Now at 35. Also, Charles Allmon recommended it because of consistent growth, large ROE, little debt, insider ownership. Still, IMO it is in a cyclical business (although the up cycle does seem very long now --g--). Its competitors - Butler Mfg and American Building (BBR and ABCO) also look inexpensive (pe and roe compared to market). Why is BLDG the buy in this industry, and why do you think this company represents a Buffett stock? (I see it as good management in a mediocre or cyclical business--wouldn't this dissuade Mr Buffett?) Still, stock is worth a look by value investors IMO. Paul Senior