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

To: Paul Senior who wrote (5502)	12/20/1998 2:47:00 PM
From: cfimx	Read Replies (1) \| Respond to of 78666

Paul, quite a bs detector you have there! Can discard a stock in a matter of minutes by looking at YAHOO! regarding ecp: >>With the pe where it is, the price to book, no div (I didn't check price-to-sales; this ratio might be affected by general decline I think in newspaper readership), it has no interest for me. And generalizing some more - it would be uncommon that I would consider newspapers which apparently trade on EBITDA or cable companies (is that $/POP or something?), or some other industries.<< >>no div<< Yahoo must have been wrong Paul. It does have a dividend. >>this ratio might be affected by general decline I think in newspaper readership<< Might is the operative word. Newspaper readership is not declining in their markets. >>it would be uncommon that I would consider newspapers which apparently trade on EBITDA or cable companies (is that $/POP or something?)<< They don't TRADE on EBITDA Paul. Like I said. Some smart buyers VALUE them on EBITA (No D Paul). You might be surprised to hear that Newspaper companies have EARNINGS Paul. Can you imagine? A newspaper company with earnings? And because they have earnings, they get to have a P/E ratio, just like a cement company. >>it has no interest for me...it would be uncommon that I would consider newspapers<< I finally understand the full meaning of what Buffet meant when he responded to a question about why everyone doesn't invest with a focus on value "they either get the concept instantly or they'll NEVER ever get it."