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

To: James Clarke who wrote (5906)	1/30/1999 12:44:00 AM
From: Dan Meleney	Respond to of 78826

Bad buys: Airtran, formerly ValueJet. Only lost 80% of what I invested. Dan eom

To: James Clarke who wrote (5906)	2/1/1999 10:05:00 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78826

Jim: about my net-nets I find this a trying and discouraging way of investing. But I am doing it for a component of my stock portfolio. Myself-- I am having difficulty in selecting from among the choices occasionally presented here. So in some way, I am also discriminating about which I buy. I'm more concerned about cash-on-hand than I am of the company's business model or prospects. (Although of course, the cash burn-rate is related to the business model/prospects.) I've had no failures with the net-nets which I've purchased since '96. ALL have been profitable when I sold them. (This seems similar to your success I think.) I'd better qualify this though. First, I've not bought that many. Perhaps about 2 each year. Each has been posted here. Secondly, in every other endeavor, I've been wrong many, many times. I've bought PFG about 12 and below, it's now 1, RGFX @3 it's now maybe .3, RACC @3+ now .01. Those are just some of the buys that went south. (They weren't purchased as net-nets though.) I try to give each company about 2 years to work out - overcome its problems. If they are unable, then by that time my percentage losses are humongous. Paul.