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

To: Honest Abe who wrote (3177)	2/9/1998 11:56:00 PM
From: Ron Bower	Read Replies (3) \| Respond to of 78568

Abe, I also have shown very nice gains over the last couple of weeks. I have no concrete reasons for pessimism, just a feeling I've gotten from reading the news. Iraq situation, very high unemployment in Europe, continued problems in Asia, major layoffs by US firms, arrests in China, etc. In addition, there's some poor earnings surprises coming out by US firms. Many reporting good earnings are forecasting weakness. Buffet has been selling stock, has put a lot of money in bonds and silver. I just paid $1800 for a Fujitsu laptop that was selling for over $4000 two months ago. This is 2/3 the price of the lowest priced comparable US made laptop. The strong dollar and weak Yen effect. As I say, nothing concrete, just finding a lot of negative news and very few reasons for optimism. Ron

To: Honest Abe who wrote (3177)	2/10/1998 10:49:00 AM
From: Paul Senior	Read Replies (3) \| Respond to of 78568

Well, when one invests using one's feelings as a market timing tool, then of course one is going to get spun about as feelings change. You guys make me laugh - or shake my head anyway. Wasn't it about 5 months ago that we had this same discussion? Didn't I recall a few of you saying the same thing - market too high, going to cash? Now the market is higher and what do I see? At least one person is back to fully invested- I figured he couldn't stay out -g-. There are PLENTY of good stocks out there at good prices. Of course, if you run a concentrated portfolio of 6 stocks, it will take you seemingly forever to make a buy decision (and it should). And if you don't have a value investing model or models (and from opinions on some stocks some of you are seeking, I can't fathom what possible models you might be internalizing -g-), or if you use Buffett( -- you only get 20 ticket punches anyway -g-) then you are much more subject to succumb to the belief that it's too late - slim pickings now. As for me, yesterday I bought into a new position, and I'm trying to buy into another today. These are your standard issue value companies with some of the characteristics of low ps, low p/book, div increases, etc. Of course, I am also taking profits in fully valued (IMO) positions too. JMO, and I've been wrong many, many times before.