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

To: Paul Senior who wrote (6242)	3/8/1999 4:21:00 PM
From: Wallace Rivers	Read Replies (3) \| Respond to of 78481

Opinions on Glenayre Tech. (GEMS, what a ticker, because it hasn't been a GEM of late!)? Had a _____ (fill in the blank with your favorite expletive) latest reported Q, however: Current ratio approx. 3/1, P/Book 1.88, no debt on the books. 52 week high 17, 52 week low near its current price of 3 7/8. All time high about 50!

To: Paul Senior who wrote (6242)	3/9/1999 11:59:00 AM
From: Paul Senior	Read Replies (2) \| Respond to of 78481

FWIW, made some changes re stocks I've mentioned here. SHG: Selling half my position. Big loser for me. UC: Another big loser. I'd sell if it would open for trading (halted after bankruptcy announcement) VO: sold last week @ mid 40. Lost my confidence to hold as stock jumped around from its highs. This stock discussed here about 18 months ago with almost everyone - I think?? - saying it was wasn't worth buying at low 30's, where I bought. BMY: peeling off more @ 64. I've sold some at 22,44,49,54,59. What can I say? Sometimes, one good stock purchased right, makes all the difference to one's portfolio results. Or maybe I should say, one good stock--- if it were just held-- would really make all the difference. FLEX: took a little profit. Again, looks too soon. WBB: Del Webb. Adding to position today as stock drops under stated book value. Still finding lots of stocks to buy in this market. Paul

To: Paul Senior who wrote (6242)	3/12/1999 4:49:00 PM
From: Walter in HK	Respond to of 78481

Paul, thanks for your Ben Graham views. Sorry I was off-line (HD warranty) and have to catch up. What you say about Weitz intrigues me: Graham, applied to non-household names. Makes sense as all is picked over, but I will check the record. Still waiting for Weitz material via Florida - they won't send abroad. And I have to find an internet way to see which stocks they own at their latest reports. Do you know which SEC form shows it ? They download awesomely fast here, but are harder to read than hard copy. No, I own no Hong Kong stocks yet. I am an investor and don't understand it yet, 18 months here. Found a wonderful Developer (70% of HK market cap is Real Estate - or was) at 20 % of book. And book in HK is based on appraisals, the AR being signed by a US Auditor (so, my guess, not off by more than 100%) and this Co, Lai Sun Development, has a Sept FY, so it was much more recent than calendar year companies. I have access here to some biggies (my wife runs a tertiary institution) and first thing I hear, the tycoon is in jail (out on bail) in Taiwan for bribery. He bought the Furama Hotel at the top of the market etc. With respect to Real Estate, the other uncertainty is that I don't know how long land will be kept so scarce. The Government owns all and only "sells" leases, a max of 125 acres a year, since the Joint Declaration of 1984, and they have't even fulfilled that. If I ever find out the tycoons cut in the Beijing big party boys (via their children) then I will understand it. So, I haven't found much here. Missed Hutcheson Whampoa which is run by Li Ka-shing the biggest and best of the tycoons here. He has an uncanny nose for jumping in when things look depressed. The banks: You don't know anything about their loan portfolio until the stock is up again. But generally, the HK market is the only one I would look at. British disclosure requirements and you can read the stuff in English. The rest of the region, including Japan (except maybe those meeting US disclosure as ADR) are just one crapshoot. You find lucky people who happen to have made money there and you won't find the ones who fell quiet because they lost their shirt. Since yesterday I am Ethernet connected to the net of the Institute my wife runs and have learned how to get my e-mail out of sympatico.ca (Canada) and Aol, get the NYTimes real fast now. Happily retired and have no time.