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

To: Michael Burry who wrote (3369)	2/26/1998 11:33:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 78515

Mike, I would be curious as to whether you would be willing to stretch your definition of value stock to include franchise value or dominant market position, even if regular valuation measures looked ridiculous. AOL would have been such a stock many points ago. The reason I ask is that I love my @HOME service. Everyone does. The small extra cost (vs. AOL plus extra phone line, or even AOL alone) is a no-brainer in terms of productivity (personal ROI). However, ATHM has a ridiculous valuation, but appears to be dominant in its niche and with all the right corporate connections.