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

To: Scott Mc who wrote (2913)	1/3/1998 12:03:00 PM
From: Ron Bower	Read Replies (1) \| Respond to of 78666

Scott, I put a lot of emphasis on management ability and it's logically measured by the historical success of the company. My philosophy is 'companies that make money will continue to make money' and I think history proves this. I'm amazed at recommendations that have never shown profits. I have a big problem with 'they've been losing but they are going to turn it around', particularly on companies deep in debt. JWC management is mid/late-40s. This makes them old enough to know and young enough to be aggressive. They have rewarded shareholders in the past and, with their high liquidity, should continue to do so in the future. The earnings growth has been good, but the shareholder appreciation has been fantistic. If you read deep into their history, you'll find some dealings that have been excellent. They are sharp! You might note that they've reported earnings of $1.53, but they increased stockholder equity by almost $2.00 and had earnings of .62 the last Q. '98 earnings will likely be over $2.50 and stockholder equity growth exceed that amount. LOL, Ron

To: Scott Mc who wrote (2913)	1/4/1998 3:04:00 AM
From: Paul Senior	Read Replies (4) \| Respond to of 78666

Scott Mc: nice move on ANET. Still looking at JWC. Can't figure out how they'll sustain their growth. Isn't internet trading going to affect them adversely? Beazer Homes looks too expensive for me. (I've been lightening up from one homebuilding position, and so right now, it's a little harder for me to diversify my way back in.) Perhaps it's mobile homes that are due for some investigation now? Scott, my main reason for posting is your comment about Noranda. Did you say, The Globe said the to-be-spun-off parts are worth or likely to trade about $24, and NOR itself will possibly/likely trade after the spinoff maybe at 20?? With NOR.To now at 24+ that would indicate a great buying opportunity - IF that Globe analysis were to come about. Are you thinking of buying Noranda? Would you know why there seems to be such a discrepancy among the prices for Noranda on Toronto, Vancouver, and Montreal exchanges? Paul.