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

To: Michael Burry who wrote (3449)	3/5/1998 10:11:00 AM
From: jeffbas	Read Replies (1) \| Respond to of 78574

FLEXF under $40 - insignificant PC exposure.

To: Michael Burry who wrote (3449)	3/5/1998 10:25:00 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78574

Wow. My screen is red everywhere! As bad as I can remember. I Gotta get into system- monitor right now to change that color! -g- Paul.

To: Michael Burry who wrote (3449)	3/5/1998 11:12:00 AM
From: James Clarke	Read Replies (2) \| Respond to of 78574

Just bought Intel at 75 1/8. Feels good to have a couple great companies in my portfolio again. Now if only Janet Reno could get MSFT to sell off by, oh 80% or so...Mike, you may get the last laugh, you may not.

To: Michael Burry who wrote (3449)	3/5/1998 11:13:00 AM
From: chirodoc	Respond to of 78574

how about checkfree (ckfr) the leaders in internet bill pay--been beaten to a pulp by worries that msft will crush them--at $20 it is a helluva good long term tech play--at a discount.

To: Michael Burry who wrote (3449)	3/5/1998 1:46:00 PM
From: Jurgis Bekepuris	Respond to of 78574

Mike, INTC @60, ELY @20, ADBE @30, AMAT @20, ADPT <20, ASYT <20. Looks good. If we don't get there, no sweat. If we don't get extended downdraft, I'd buy some KLIC and maybe SFAM. They are pretty cheap anyway. ;-) Good luck Jurgis

To: Michael Burry who wrote (3449)	3/5/1998 2:53:00 PM
From: Stewart Whitman	Respond to of 78574

I starting to look at Atmel (jumping right into the center of all problems). I don't think their recent acquisition has been priced into the stock - it looks like Temic IC was just dumped at a bargain price. The increased European exposure and the silicon germanium technology both look to be long-term winners. Pretty diversified company in terms of products - some relatively low tech (e.g. EEPROM), some advanced stuff (e.g. programmable logic), some commodity products (e.g. flash unfortunately). Near term, you have to consider the debt and whether you can get over the write-offs (mostly wireless customers?) last quarter. My buying target is around $12, but I might consider a higher price. Stew

To: Michael Burry who wrote (3449)	3/6/1998 12:54:00 AM
From: Shane M	Respond to of 78574

Mike, I agree with you on INTC. I would love to get in at under $60, but would be surprised to see it drop to that level. Calloway is also near the top of my interest list but I have revenue growth concerns. Do you think Calloway can continue to grow revenues at 15 to 20%? If so, I like ELY. (Did we also agree on Deswell Industries?) 2 Small Cap Tech Stocks of interest to me. Note: I currently own neither. Innovex (INVX): supplier to disk drive industry (and is similarly depressed in price) but trying to diversify. Many on the INVX thread argue that INVX's technology is most cost effective. Mkt cap around $320 million. ROE over 27% for last 3 yrs. 90+% sales growth in recent year. Trailing PE @ 10. Almost zero Long term debt. 24% margins in recent year. Electronics for Imaging (EFII): color printing. Market is set to explode IMO and they are well connected to major manufacturers. Recently some have begun to doubt management, however, so I am cautious. 20+% ROE, 40% sales/share growth, PE around 11, no Long term debt, margins around 20%. In addition to INTC, one other tech stock that I think may just qualify as a value stock, although so many of the traditional valuations say "no" is Cisco. Despite high PE, high P/S, we're talking about a company with growing market power, ROE of around 25%, Sales/Share growth of 40% (although this growth rate may be slowing), around 17% margins, and no debt. This company can grow quickly enough over time to justify it's current high valuation. I estimate that _if_ Cisco can maintain 17% margins and 30% sales growth over 5 years, ROI should be at least 20% annually. It's not as cheap as INTC, but it's not nearly as inflated as it may seem at first glance. Shane