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

To: Jyoti sharma who wrote (3054)	1/16/1998 2:54:00 AM
From: Paul Weiss	Read Replies (1) \| Respond to of 78653

Jyoti-- I'm hoping you can offer some insight on TWSTY. That it is trading at roughly 1/2 of book value qualifies it as value (and makes it interesting). My take is that the company has been bleeding since inception, and thus the low price to book. Apparantly cable entered the UK market behind satellite and has had an uphill fight to gain market share. Recent numbers would indicate that TWSTY is still losing (spending?) a great deal, but that gross revenues are expanding noticably. So.... do you see a value here? Regards, Paul P.S. The story reminds me of TCOMA before the market re-discovered cable: large losses on infrastructure build-out, nobody wants it.

To: Jyoti sharma who wrote (3054)	1/21/1998 10:05:00 AM
From: Robert Hoefer	Read Replies (1) \| Respond to of 78653

Your calculation of premiums for ADR's took me by surprise. A month or two ago I calculated the premium for PKX at 40%, based on quotes I got from StockSmart. Maybe I should have doublechecked before buying in at $16. Could you show me the math for the current premium on PKX? I had read in Smartmoney that the "normal" premium was about 60%, so I thought I was getting a bargain, though that's certainly debatable. I also want to offer a contrarian view to KF. After the peso devaluation, Mexico Fund kept its premium for a surprisingly long time, but eventually it drifted down into a wide discount. Might Korea Fund not be following the same delayed-reaction path?