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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (622)	8/13/1998 4:47:00 PM
From: Axel Gunderson	Respond to of 1722

<< I've got a brilliant idea for a restaurant chain >> Is it virtual? Or does it require expensive ground floor real estate with a lot of traffic --???> Not virtual. BUT - if we go public to get the financing to start the chain, then at least to start we can have the valuation of a virtual restaurant. New topic - I have been reading the new David Dreman book. I recommend it to all. The chapters I was reading last night - Porc, ya gotta read. An awful lot that supports your ideas on equities versus other asset classes. But the review of the historical record he gives should challenge you to at least reconsider your perspectives on inflation. Yes, the inflation data is very interesting. Axel

To: porcupine --''''> who wrote (622)	8/13/1998 6:33:00 PM
From: Freedom Fighter	Respond to of 1722

<< I've got a brilliant idea for a restaurant chain >> >Is it virtual? Or does it require expensive ground floor real estate >with a lot of traffic --???> As long as it earns a high return on invested capital, has opportunities to reinvest earnings at that high rate on an ongoing basis, and the IPO is selling at a discounted rate that is superior to other investments on a risk adjusted basis you can count me in. I don't care if I sell buggy whips or micro chips as long as the Return on Capital is high, it is SUSTAINABLE, the earnings are not an illusion, the accounting is real and I can understand what's REALLY going on etc... There's nothing wrong with real estate at the right price either. A lot of fortunes have been made buying real estate. But if you can figure out how we can generate a lot of burger and hot dog sales on the internet without making any money I'm out. Especially if anyone can do it and I have no idea if I will be the winner.