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

To: Paul Senior who wrote (5195)	10/28/1998 11:52:00 AM
From: jeffbas	Read Replies (1) \| Respond to of 78525

I would say that all stocks are highly dangerous. The article titled Prozac, Please in the current issue of Barron's is must reading. It is a well reasoned and quite bearish interview with economist David Levy. He predicts very hard times everywhere starting soon and says that this is the most important time since WW II to emphasize protection of capital.

To: Paul Senior who wrote (5195)	10/29/1998 9:43:00 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78525

Here's some of what I've been doing. If this gives anybody any ideas --good. If anybody's got any ideas to help me-- good too. Trimming stuff: ABT, for example. Stock just keeps going up, and I just keep peeling off shares. I don't know whether to congratulate myself or kick myself. Got the same feeling regarding SUNW, some others which I've been taking profits on. I'm just getting scared - and scared out, I think. Starting to buy: TMO. Can't seem to get what I want at my price though. Buying a little earlier this week. TMO is the mother company of all the Thermo spinoffs. Now they think they've got too many of these kids (30+?), and are going to bring some back in. So there's some concern about how this is all going to play out. But sales keep growing, the pe and some other measures are low historically (or were). So I've stepped in to buy. I will probably reluctantly step up and buy more. Starting to buy SPF: Standard Pacific builds homes in the California market, and business is good. I looked at other home builders (BZH for example -- mentioned on this thread before), but SPF just looks more attractive to me. Homebuilding stocks have been moving up, SPF is lagging; I don't think it deserves to. Adding to position: MMI. Apparently they've announced a loss for the quarter. Stock is down about 3 to 15+, its year lows. Reasonable dividend and below book value. They are a medical malpractice insurer. As long as our favorite doctors don't turn into day traders, there's probably still a market (albeit competitive market) for their insurance business. Stock has had its earnings ups and downs. I'll bet they'll come through this too. (It will take 12 months maybe.) Starting a new position: BUNS. Now this is a vaguely kinda/sorta company like the restaurant biz. that Warren Buffett bought last year. That is, they make a lot of their money from the franchising end. (Although they don't have have moat protection of the ubiquitous small town locations that the Dairy Queens have) Selling near book value, with no LT debt, rising sales-- BUNS is a company that announced a not-so-great quarter also. So what, I say -g-. The stock is a buy here. Well, for what it's worth.... Paul.