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

To: judge who wrote (3989)	5/4/1998 10:28:00 PM
From: Paul Senior	Read Replies (3) \| Respond to of 78473

Judge: Well then, I AM surprised that someone else here is calling CHKPF undervalued. Am I seeing these Yahoo numbers right -- price to book of 16; price to sales of 21?? It's a Billion dollar market cap company and it's got 49 employees?? You mean to say these 49 people are so smart and so firstest-with-the-mostest that any other company trying to get into this lucrative (apparently) business with 100 or 150 good people devoted to it, could not come in and take some of this great business away from them? Or just hire away about 7 CHKPF people to repeat what they did? I don't see ATML as a value either. Nor did I see AOL. I think you're very wrong for believing they're value based. But then again, I must be crazy for thinking that, because so many people are buying AOL and others of their ilk. And regardless of what I think, the stocks are up, and you are making money. I think with AOL, it's new investors who follow Peter Lynch - buy what you know. Lots and Lots of these people are with AOL. They like it, they know it, so why not buy some. Or mutual fund managers are comfortable having people see that popular name in their portfolios. That's all pushing the stock up IMO. With CHKPF, you get these 4.1/2 gains as either short covering or a rush to buy in up market. Again per Yahoo, there're 36M sh. of CHKPF outstanding with a float of only 7.5M -- and today the volume count was 2.6M. In my opinion, none of this makes any difference. If you've bought right, you're making tons of money. So congratulations (said with gritting teeth -g-). And maybe that's what everyone should have been doing. Buying Yahoo, AOL, DELL. All the popular stuff. (Maybe it's not too late...GNET for Silicon Investors -g-.) Sorry I wasn't along for the ride with any of these even for just a small amount. In hindsight, it would've been great. But if the market went the other way, or somebody I never heard of cut earnings estimates and the stock dropped 50%, I wouldn't have a clue as to what fair value was, and I'd never have the courage to hang on or buy more. Paul Senior