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

To: Michael Burry who wrote (4827)	8/27/1998 12:01:00 PM
From: Ron Bower	Read Replies (1) \| Respond to of 78595

Mike, I agree. Time to sit back and watch. If you haven't prepared for this already, it's too late. IMO - it's got a ways to go down. Asian to Russian to SA to Europe to US. JMHO, Ron

To: Michael Burry who wrote (4827)	8/27/1998 12:30:00 PM
From: Kathleen capps	Read Replies (1) \| Respond to of 78595

Michael, I bought NH yesterday at 10 15/16 for my IRA. I felt the dividend would support it in the future. Although I thought it might still fall more due to the perception (truth) that they will be especially hard hit by problems in Asia/Russia. I intend it for a long term holding so I didn't worry too much about the last 1/16th. Also added to my position on FAST. Kathleen

To: Michael Burry who wrote (4827)	8/27/1998 1:04:00 PM
From: Axel Gunderson	Respond to of 78595

Mike: I am feeling the same way you are, except I don't perceive a glut of bargains yet. Until very recently I had been seeing some bargains, but the companies were not what I would call great companies (in the Fisher or Buffett sense). I had been thinking that I might have to break down and buy a small basket of good (not great) companies at bargain prices. But now it looks as though the great companies will become available and I should just be patient. It is kind of ironic. I used to invariably be able to count on a stock falling another 10-20% after I bought it. Then I got a tiny bit smarter, realized I was in too much of a rush to grab bargains, and started to instead enter GTC orders for prices below the available bargain prices. This way I both got cheaper prices and wasted less time watching the market. But right now I'm glad I haven't entered any such orders yet. I will, but this may be a great time to first come up with a wish list that would ordinarily seem to be "pie-in-the-sky." Axel

To: Michael Burry who wrote (4827)	8/27/1998 1:34:00 PM
From: Wright Sullivan	Respond to of 78595

I'm in the same boat--don't need to look for fresh value ideas when there's a fire sale on everything I own. But in the spirit of this thread's original mission, here's a specific one I like more than the others: CNSO (Conso Products Corp.) makes tassels and trimmings for fancy furniture and furnishings. -Stock is at $6 today -Good earnings (.22) announced Friday. -Recently purchased Simplicity Patterns Co., a well-known brand name. -Chairman Cary Findlay just took over as Pres./CEO again. -Findlays, both accountants, are very sharp owner/mgrs and own 42% of the company, recently added more. -Sales last 12 mos: $125 million (about half Simplicity, half Conso). -Profits have been hurt by competition last year but appear to be improving again. -Margins have historically been much better in tassels/fringe than for typical textiles, though battered last year, and improving now. It's an obscure stock in a lousy industry, but it looks pretty darn cheap to me, and has good management and future prospects. Perhaps some of the crack number crunchers on this board will have some additional comments. Or maybe it's just marginally interesting with everything else on sale at the same time. Comments?