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

To: accountclosed who wrote (38354)	12/6/1998 3:05:00 PM
From: Ilaine	Read Replies (1) \| Respond to of 132070

Antoine, I don't try to find prediction in what MB says. Never. I don't believe in crystal balls. He says a lot of things that are informative, and helpful, and even entertaining, OK? >>>>>one thing an investor can do is not look to the market to validate the value of one's holdings<<<<< I have no idea what you mean by that. My position is that my "holdings" are worth what a willing buyer would pay a willing seller on any given day. If I think I can get more by waiting for market conditions to alter, then I am anticipating that the value of my holding will increase. E.g., Haliburton ain't going to go up unless the present supply of oil is depleted, or the price of oil goes up. The conditions changed, which caused the market to change. Is Haliburton underpriced? Not if oil prices never rise, not if demand for oil evaporates, but we expect that the future will be consistent with what we have experienced in the past. Look at Nucor Steel, a friend of mine really likes that company. Cheap foreign steel and decreased domestic demand have caused them to cut steel prices. Nucor is a screaming buy, if, and only if, it can sit out the lack of demand and demand eventually increases. That doesn't mean that Nucor is undervalued, does it? I look forward to your response, but I am logging off to take the kids to get haircuts. Later, CobaltBlue

To: accountclosed who wrote (38354)	12/7/1998 12:43:00 AM
From: Richard Nehrboss	Read Replies (1) \| Respond to of 132070

Antoine, OK. You've used the house analogy twice now and I can't resist not commenting. I, and I believe most would, value my house by comparables. This is also the way appraisers, and realtors value them as well. Ever wonder why comparable homes in Omaha and San Francisco can be separated by $400k? I do believe in value investing, aka Graham, Buffet and Burke (G), but I also think demand serves a component. Just ask stamp collectors. We have a lot of stock collectors these days. Richard