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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: accountclosed who wrote (36238)	11/14/1998 6:36:00 AM
From: Greg Jung	Read Replies (1) \| Respond to of 132070

I'm not following the whole thread so excuse my intrusion with the obvious. If you're trying to make a valuation on the internets of course all you can say is, what the market says it is at a given time of day. The same can be said for underpriced stocks. You don't have to go to steels, btw - take for instance TMAR and HMAR in oil services. p/b < 1/3 for HMAR related to high debt load but even with that, they are shunned not for valuation but for lack of near-term prospects for inceases in valuations. There is too much stock out there for each stock to be priced near value, especially in small caps. In large cap stocks the opposite holds true, not enough P&Gs to hold all the money the market wants to put with them, and so overvalued. In this market there is little relevance to valuation questions, it is Casino night at the old VFD. Some of the Luddites prefer just to play bingo while others next door are shooting craps. Greg

To: accountclosed who wrote (36238)	11/14/1998 8:29:00 AM
From: Ilaine	Read Replies (2) \| Respond to of 132070

Hi Antoine, FYI (and please don't be offended if you already know this), low price in steel industry not just due to "dumping" and Asian crisis; auto manufacturers are shifting to aluminum to save weight, aluminum has become much cheaper to produce. My Rover has an aluminum body and an aluminum engine, which makes it rust resistant (steel body cage, otherwise I'd say rust proof) and improves the gas milage all the way to a whopping 13 mpg. cbs.marketwatch.com Don't know why National Steel is lower than others. I do know that Nucor Steel is considered by people I respect to have promise, due to its small batch mills that are cheaper to fire up and can handle scrap. Philosophically, the relatively low prices of companies like Nucor and Bethlehem Steel are another factor that makes me question whether the market as a whole is overpriced, or whether just certain sectors are. CobaltBlue

To: accountclosed who wrote (36238)	11/14/1998 11:29:00 AM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

roq, first of all, mu is notoriously good at charging dumping while notoriously bad at actually proving it. since they can't compete in the field they try and compete in the legal arena. they think they are the low cost producers so when they sell below marginal cost they assume everyone must be doing the same. the bottom line is that they aren't most of the time. the fixed costs of dram production are so large that you can sell at marginal cost and lose billions very easily. anyway, it is a tech thing. tech investors buy this demand resurgence deal. they think, at any moment, pc sales will go up 100% overnight. they confuse cool technology with profits. paul is the worst. he told me i only understood the business side of xlnx. i didn't understand the products. when it cratered 45% he didn't post to me ;-) the ONLY issue of substance is supply and demand and what impacts it. the tech suckers only focus on demand. the steel investors only focus on supply. the glass is half full for mu and half empty for ns.