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

To: Scott Mc who wrote (3973)	5/1/1998 10:38:00 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78814

Scott: re: HYDE, NOR, APPB. HYDE got a lot of publicity here I think because many bought the product, or HYDEA at least had a product -g- (and an understandable one!). And although it was a net-net, a case could (maybe) be made for buying in as a turnaround, growth, entering new businesses phase. (I only bought for net-net; I sold out today also because I can't see where real value is much higher than current value. Not to say it isn't there, or that the stock won't go ever higher--- just that for me, I can't see now. Possibly too, I'm so excited I have a net-net that's worked out, that I'm anxious to take my profit. (They really do seem to take a long time to work out IMO, and it's not all so certain that they will; I think we were lucky with HYDE or we're in a bull market -g-) I post this to you, because I see - in retrospect of course -g- that you yourself have a pretty good winner IMO with NOR.to which you've mentioned here, and which was discussed here. That one possibly did not get my buy because 1) I couldn't find enough USA info. on it, 2)I couldn't confirm the favorable news article, 2)I wasn't confident enough about the company business. Still, for someone with some confidence and patience, it does seem (now of course -g-) to have been a very good, almost obvious, bet to have made. Not sure if it was you, but somebody posted briefly on APPB when it was at its lows. That was a very good call also I see. I still think there are plenty of good stocks out there for value investors. For me, it's just sometimes hard to see them when they are at buy points -g-. Paul.

To: Scott Mc who wrote (3973)	5/2/1998 12:35:00 AM
From: James Clarke	Read Replies (1) \| Respond to of 78814

Hyde boring? Yeah, snooze all the way to the bank. Actually I find nothing boring about a net-net. The mere fact that one can exist in today's (well, yesterday's) market just fascinates me. One of the important lessons of Peter Lynch's books is that boring is good. It is just so hard to hold these stocks for the period it takes for the payoff when you are constantly bombarded with new and exciting ideas. I found a way to do that which works for me. I honestly get excited about a business precisely because it is boring. Read Lynch and you'll see what I mean, but its got to be intuitive. Looking back, I have lost money on exciting businesses but my biggest winners have been the most boring mundane stories. Hint for St. Joe fans - when they get exciting, sell them. You want to talk boring? I am visiting a company in Portland next week that produces steel pipe. Large diameter steel pipe, small diameter steel pipe...even medium diameter steel pipe. I can't think of a more boring business. Northwest Pipe - it even has a boring name. That tells me its worth a look, because I doubt if many other people are looking. I'll just have to juice myself with caffeine before the meeting. Jim

To: Scott Mc who wrote (3973)	5/2/1998 11:05:00 AM
From: Wallace Rivers	Respond to of 78814

Congrats Mike on Hyde. I failed to invest because of lack of liquidity and a yawning spread, even though I liked the company and am using/have used their products. One we both own, however, YPF, is working for us right now. I've owned it now for close to 3 years, and still currently trades at a significant PE discount to the other big oils. Perhaps it shouldn't trade at quite as high a multiple as the other big petros, but it still appears cheap. Nice to see someone who looks for the same stuff as I do rather than KTEL, YHOO, XCIT, or AOL types. Oops, meant this for Mike B! Good luck to all!