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

To: Paul Senior who wrote (2717)	12/10/1997 2:23:00 AM
From: Michael Burry	Read Replies (1) \| Respond to of 78595

PD gets analyzed by Peter Lynch in Beating the Street. I have a friend who works there and was trying to get me to buy it up near 80. Evidently he's new and didn't understand cyclicals.I've continued to track it, but I'm not sure I do either. It produces 1.5 billion pounds of copper, so every 1 cent change in price/lb transmits 15 million in net profit/loss right to the bottom line - not insignificant with a market cap less than 4 billion. It has a plan to sell off non-core operations, and has already started doing so, but copper is the tail that wags this dog. I don't know quite when to jump in. Going by Lynch's methods, the Equity - Debts of 1.8 billion should make us feel safe that they can survive the next downturn. I think that's a given. But when to pull the trigger. Down again today. Any opinion here appreciated. You own GNT? Why and for how long? I've been looking at it. What do you make of the recent charge? Last thing I want is another $164 million surprise like OXHP, but IMO GNT's customers paying back loans quicker than expected isn't necessarily bad management right? Good quality of loans perhaps? Good Investing, Mike

To: Paul Senior who wrote (2717)	12/10/1997 11:55:00 AM
From: Brendan W	Read Replies (2) \| Respond to of 78595

I follow and buy most everything foreign or domestic... I just have to like the company and have a "rational" basis/strategy for owning them ... GARP, P/B, PSR whatever. Sectors that draw a lot of attention for me now are REITs, banks & brokers, data storage, communications, semiconductors, and metals. My big holdings are Adaptec, Intel, HSBC Holdings and MCI. Names that I'm watching (I'll only disclose large-cap) ... adding to QNTM, SEG, and CS (I'd do WDC but only around $10 and I'm not holding my breath), starting positions in Lockheed Martin and Applied Materials.