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

To: Michael Burry who wrote (5349)	11/29/1998 1:21:00 AM
From: Shane M	Respond to of 78576

Mike, I have the oils on a watchlist but am unsure whether I'll devote any $. A stock that is interesting to me in the group, along with TDW, is GIFI Gulf Island Fabrication. PE@ 6. A friend at work w/ some contacts says they're still having to turn away business. Here's a link for a recent earnings report quicken.excite.com Shane

To: Michael Burry who wrote (5349)	11/29/1998 9:36:00 PM
From: Scott Mc	Respond to of 78576

Mike, yup still here, Re WHX, I'm just holding the A convertible, it pays a great dividend based on current rates, and frankly everything I've heard about the company since the strike ended(except for the steel business)has been very positive. It seems that R.Labow has been pursuing his own interest(which are aligned with mine) and adding value to WHX, the dividend looks pretty secure. If the share gets back up to $14 or so I'll start shorting against the convert again. Scott PS; I haven;t had much to say lately, however happy third anniversery on the thread(Nov19th) and also my favorite which I have mentioned a few times (Eagle Hardware) was bought out by Lowe's the other day..

To: Michael Burry who wrote (5349)	12/2/1998 5:47:00 PM
From: Allen Furlan	Respond to of 78576

Mike ,you and several others have expressed interest in the beaten up steels(LTV also I believe). You might wish to order an investor package from Olympic Steel(ZEUS) at 216-292-3200. Stock lost 5/8 today to close at 5 3/8 which is very near the 5 year low. I am buying and here is my rationale: 1) Not producer but value added distributor. From CEO Michael Siegal "Our motivating factor is not what we think we need to do (for ourselves);it is based on what our customers need us to do for them ..we will continue to invest in the things that make our customers more efficient in the market place"May 1995 An example is a welded variable thickness steel sheet which accomodates a more efficient stamping operation for auto makers. 2)Excellent management. Siegal man of year in Metal Stamping News Dec 1997. 3)Real book(not goodwill hype) of 13.67 or p/b of .39 4)Last 2 insider transaction were small cash buys. 5)Earlier this year co-founder left company and did planned sale of 200,000 plus of his 1 million shares. He no longer files as insider.A speculation on my part is that he may be continuing his sales. There are only 10.7 million shares outstanding. 6)IPO was at 15.5 and secondary at 25. Company wisely using money to acquire compatible businesses. The investor package is excellent and for those who wish to put some time into analysis I would suggest they request same.