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

To: John Stichnoth who wrote (6188)	3/4/1999 3:32:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 78464

On your last point, a higher exposure internationally is a plus not a minus. First, based on their release North America in 1999 will be the weakest area for the market relative to 1998. Second, I would think the US market is largely replacement, while any true growth will eventually come from overseas. Your other points probably have helped us to buy the stock at 6-8% below the prior low, whereas DE, CSE, and AG average 17% above the lows previously reached at the same time. I do not believe NH fundamentals are worse and they may be better. Certainly the yield is a far superior investment factor compared with the other three.

To: John Stichnoth who wrote (6188)	3/4/1999 4:17:00 PM
From: Terrapin	Respond to of 78464

Re: NH and Fiat, This had crossed my mind as well. Wasn't Fiat buying back shares of NH last fall (and possibly supporting a price)? Does anybody know their strategic objectives or could we be susceptible to a "take-under"? Sorry for not having the answers but that was a concern when I recently bought at what I thought was a rock-bottom price of $9.5! As long as the dividend is secure then I have no fear adding to it. Let's just hope Fiat likes the dividend income as much as I do! Good investing, John PS: I agree with Mike Burry - somebody try to talk me out of this! <g>

To: John Stichnoth who wrote (6188)	3/4/1999 6:04:00 PM
From: Bob Rudd	Respond to of 78464

In terms of international exposure NH is most comparable to AGCO. Based on one quarters numbers AGCO was: Region Qtr Sales % W Europe 323 46.1 North America 230 33% Latin America 80.4 11.5 Remain Int Mrkt Includes Asia 68.7 9.8 Total 700 NN is roughly 40% each for Europe and North America, 5% Brazil, and 16% rest of world based on 97 sales..but %'s have been fairly stable for 3 years. The periods aren't the same but you get the idea Bob