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

To: FIFO_kid2 who wrote (4522)	7/29/1998 1:33:00 PM
From: 18acastra	Respond to of 78717

Globaltech (GAI) trading slightly over cash and only 2x EBITDA and good prospects/growth. 12.83mm shares x $9 share = $115mm mkt. cap - $70mm cash = $45mm business value. Trailing EBITDA is $23mm, versus $8mm EBITDA previous year. Taken public recently at $19/share by Furman Selz. Missed first Q out of the gate, Wall St. has been mercilous. Sunbeam was a 30% customer - therein lies the problem. Good news is that business ex. Sunbeam apparently growing 30%/40%, and company growing enough around sunbeam to hold earnings flat as Sunbeam business drops off. Eventually this issue worked through, and normalized growth returns. Globaltech is an orignal design manufacturer of consumer applience's for OEM's (i.e. they design and manufacture things like breadmakers and foodsteamer's for companies like Sunbeam, Moulinex, etc.). Globaltech has been growing so quickly because located in China, so cost structure is 50% of domestic OEMs, and time to market also much quicker with original design capability. Seems like a compelling value. My opinion.

To: FIFO_kid2 who wrote (4522)	7/29/1998 2:42:00 PM
From: Andrew	Read Replies (1) \| Respond to of 78717

reading entertainment (O-RDGE) is near NET cash per share such that owner gets 2nd largest movie theater chain in puerto rico, the angelika film center (NYC and Houston), mega and multi-plexes in australia and over $60 million of NOL for basically nothing. Cheaper way to play RDGE (and currently getting RDGE AT cash/share) is Craig Corp (N-CRG) and its common preference stock (N-CRG.pr); where you get about $0.50/crg share of Citadel holdings (A-CDL) and between .9 to 1.0 shares of RDGE per CRG chare. you'll have to read 10-K's, etc as company is limited in discussion with investors but(or shall I say and) has been buying its pieces up (CRG bought 7% of CDL in open market few months ago). Note this value play has been around for awhile and has narrowed its deep discount as the company is getting closer to redeploying its cash into more theaters in selected niche markets.

To: FIFO_kid2 who wrote (4522)	7/29/1998 7:44:00 PM
From: Scott Mc	Respond to of 78717

Misc... Jeff, mentioned ANET to you(lot of cash), after the earnings announcement today I take it back, however all new management and probably trying to sweep a few things under the mat.. CPCI: Maybe, lot of cash, have bought some shares back, small holding of mine, although business uncertain based on current results... Phycor Debentures: I own some, not adding to it at this time, business seemed to be going along fine until last fall and a few wheels have fallen off, Im hopeful they will put them back on. Tidewater:Have watched it closely, my bet is management experience will see them through reduced business and heightened competition,although have not placed a bet( I own too many oil and oil related stocks to place another bet) BZH:Beazer, a long time holding of mine posted outstanding earnings today, they sounded very confident on the conf call, not adding to my position, however one of my largest already. Scott