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

To: James Clarke who wrote (6178)	3/3/1999 8:36:00 PM
From: jeffbas	Respond to of 78464

Jim, thanks for your view on NH. I would say that there is no way that a company this large will go to $5 (double the yield on Treasuries) unless the yield on Treasuries zooms (which I think is extremely improbable considering the lack of any worldwide inflationary excess) or the strong PERCEPTION develops that the dividend will be cut (which is conceivable). My own opinion is that there is a temporary excess of institutional supply from one type of institution who bought it between 15 and 30 and are giving up and not enough demand yet from the value, income oriented investor. The stock took 200,000 shares in two blocks in the morning at $9 1/4 but couldn't handle 100,000 in the afternoon without giving ground. I am curious about the status/activity of the huge Fiat buyback which could have retired half the public stock, if I remember correctly. I wonder if they could be the buyer of these large blocks, and because of time zone differences not in the market in the PM? I do not have much experience on that kind of thing.

To: James Clarke who wrote (6178)	3/3/1999 9:44:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 78464

James, I took a look at NH and it certainly looks impressive. Very nice dividend. I haven't followed all the NH postings on this thread over the past few months. What is the book value and cash per share? TIA

To: James Clarke who wrote (6178)	3/4/1999 2:50:00 PM
From: John Stichnoth	Read Replies (3) \| Respond to of 78464

Three persistent drags on NH price might be: 1. Negative surprise for 4q98 2. Small float/Fiat Control. (As in, "Who are they working for, Fiat or all shareholders?") 3. Lack of trasparency, or access to complete financial info in the usual places--they aren't in Value Line and the "profile" in Yahoo is incomplete. Makes it hard for them to get past the first screen. A final, perhaps temporary, effect is their relatively higher exposure internationally. Just some thoughts. JS