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

To: Paul Senior who wrote (5110)	10/8/1998 6:23:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78530

Today I loaded up. Mostly, I just added to Midway, Deswell, Asyst, and Tidewater at ridiculous prices. And I started my first new position in a while buying LHO at 8 5/8 and then again at 8 1/2. Thanks to the thread for the discussion. Looked good in the teens. Looks a lot better now. I've been an absentee value investor of late because I like everything I got and didn't think it necessary to go looking for even more stocks with PE's of less than 10 and outrageous dividend yields. FWIW, I'm now postponing purchases of real goods to invest in the stock market. I find it ironic and sad that some here are just now starting to throw in the towel, with a lot of US stocks down 60-80%. Paul - you've criticized my holding periods in the past. Well, looks like I'm gonna become a long-term holder of quite a few stocks here (not what I planned or wanted ;-)). I did recently rotate out of my Case at 21 1/2 and into NH again at 9 3/4. Other than that, I'm just taking a peek every week or so. There's a serenity in the turmoil from that distance. The last few months have been the least research-intensive months in my investing career - it takes less than five minutes to find a bargain, and just another five minutes to see it get cheaper. Good investing, Mike

To: Paul Senior who wrote (5110)	10/9/1998 6:40:00 PM
From: Robert Hoefer	Read Replies (1) \| Respond to of 78530

Paul, I looked up LHO, because I'm always interested in those insane div yields, but it seems a very new issue, and the data was scarce. Usually those super-dividend situations only last a day or two until the panic subsides. Yesterday shares of Allied Capital Corp dipped to 12 3/8 because a company in a somewhat similar business made a negative announcement. OK, maybe they went bankrupt. So ALLC's yield was about 12.5% for a minute, but today the stock is back up to 15ish, still too low of course. The year high was about 29. I think RN held up better than most this week, partly because of the yield. Hope you still own that. And Olsten? Still hanging on? That company seems like a black hole of information, but sometimes that just means they are busy doing their jobs. As you said, the only thing to do now is hunker down, go outside and play, just take your mind off this stuff. :)