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

To: dj8000 who wrote (5106)	10/8/1998 1:26:00 AM
From: Paul Senior	Read Replies (2) \| Respond to of 78530

FWIW, still buying today, but it really seems a lost cause. I don't see any stock I've bought in the past few months that's profitable for me. (Oops there's at least one. X. Steel--How could that ever be?) The down trend doesn't look like it will ever stop. (But it always has -- although sometimes, after killing me -g-). LHO touched 8 1/2 today. That surprised even me. For a stock with a $1.50 indicated dividend, for that to happen we had better go into a recession. Investors must be assuming the div. must be cut (a 17.6% div. is not sustainable.) Since there's no news out on the stock, I am assuming that the market is anticipating a recession, higher vacancy rates in upscale hotels, and maybe lower revenue per available hotel room (although there's some indication that REVPAR didn't much decrease in the last recession). Or else investors are just tossing in the towel on a lot of these stocks no matter what. Crimini! (Or other words to that effect -g-.) Well, we shall see. I probably will add to my position in a larger upscale hotel REIT --FCH- tomorrow or next day. Paul Senior