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

To: Michael Burry who wrote (2768)	12/15/1997 4:43:00 PM
From: Scott Mc	Respond to of 78599

ANET ACT Networks, just keeps dropping, far as I can see trading well under book (Trading at less than the cash on its books), low to day 6 13/16, can't see how it can go much lower. Anyone? Scott

To: Michael Burry who wrote (2768)	12/15/1997 5:07:00 PM
From: Stewart Whitman	Respond to of 78599

Mike, Zilog pre-announced a substantial earnings/revenue shortfall on Sept. 28. Zilog stated in the original merger agreement that they expected Q3 to be substantially the same as Q2. However, revenues fell from over $70mm to approx $60mm. The pre-announcement resulted in the fall (and subsequent change in the merger agreement). Stew

To: Michael Burry who wrote (2768)	12/15/1997 8:04:00 PM
From: James Clarke	Respond to of 78599

Mike - any opinion on WHX's hostile bid on Handy & Harmon? I'm lost. Even at a 35% premium it only represents 13x earnings. But I think of the alternative of dividending $10 of cash to shareholders... LaBow owns a lot of stock, so I can't imagine he's just being reckless, but this is not what I expected to be seeing. I sure wish I had 20% of my portfolio in HNH today rather than in WHX.

To: Michael Burry who wrote (2768)	12/15/1997 8:09:00 PM
From: James Clarke	Read Replies (4) \| Respond to of 78599

I swore off tech stocks six months ago, but man do they look cheap now. Seagate, WFR, Electronics for Imagining...maybe even Intel. Should I place my bets? I looked at it this way when I made the decision. My decision parameters just don't seem to work for tech stocks. Although I doubled a couple of them, I had a number of losses which left me just about even in the sector. P/E doesn't work. I admit I do not understand the technology. And I look at Warren Buffett, who never bought a tech stock in his life...and he did OK. Should I reconsider? Or am I just being greedy?