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

To: Grommit who wrote (6614)	4/7/1999 4:17:00 PM
From: Michael Burry	Respond to of 78523

Ouch. Point taken. APCC I've always liked. I've always thought it just never gets cheap enough during these swoons. Wow, lo and behold here it is. I really like it at these prices and will consider it more closely. Thanks for the heads up. Similarly, thanks for the heads up on CKE. Looks cheap to me on the surface. I've followed it peripherally, but with this price fall I'll dig deeper. Grommit, I think I've posted before how much I respect your analysis. Glad to have you on this team. Hey, and for the first time ever (while babysitting) I realized where you got your handle from (I think, correct me if I'm wrong). Mike

To: Grommit who wrote (6614)	4/7/1999 4:21:00 PM
From: James Clarke	Read Replies (1) \| Respond to of 78523

I'd encourage you to stick around. I think the first thing I posted on this thread in the fall of 1996 was St. Joe Corp. a couple months before its big move started. And it was completely ignored. Only later, after a lot more posts, did I start to gain any credibility at all. In my experience, the posts that get ignored, no matter who posts them, are things like "XXX high growth, cheap". If I don't know and really respect the person who posted that, and usually even if I do, I am not going to take the time to research what the company does and try to figure out the valuation. The best posts lay that stuff and more out from the getgo. The thread may be clubby because a lot of us have been here a while and have established some trust, but the "club" has never had insurmountable barriers to entry. Ask Wayne Crimi - he got his head handed to him the first time he posted a link to his website here - but a few good, well reasoned stock picks have made him one of the "club". JJC

To: Grommit who wrote (6614)	4/7/1999 7:50:00 PM
From: Shane M	Read Replies (1) \| Respond to of 78523

Grommit, I've liked APCC in the past but honestly had taken it off my watchlist sometime last year as it had gotten so pricey. What a crash it has had. The high 20s was where I was looking at buying it a long time ago. I don't mean to speak for anyone, but I doubt it meets the valuation criterion of most of the value investors on this thread. This is probably more of a Buffett stock IMHO. My primary concerns with buying APCC are 1) barrier to entry: The only barrier to entry I see is that APC UPS quality is seen as superior by the vast majority of customers. I'm not sure why competitiors can't make a UPS that is just as good though. It doesn't seem like it should be that hard to do - but apparently is harder than it seems. 2) Slowing growth in PC sales. As PC sales growth stalls will APCC sales slowdown too, or can APCC increase penetration to continue growth? 3) I've wanted a UPS for my home, but they're still a little bit too expensive for my budget. I realize home users aren't the primary market, but when I see something in the store I like and put it back on the shelf because of price it impacts my decision on a stock. Shane

To: Grommit who wrote (6614)	4/7/1999 10:35:00 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78523

Wild post Grommit, and not up to your standards. A kick and a whine at the same time. What a combo =g= It's not about giving up, or clubbie stuff. It's about getting ideas to invest in. You've found none worthwhile on this thread? I think that's not right -- there were plenty of good ideas to follow up on - good reason to read what people are writing here. Wish I had some facts. Seems like media is saying value mutual funds are way behind the curve, because internet/growth/high cap. are doing so well. Value investing is dead. Don't see it though from this thread. Plenty of stocks mentioned here up 50% in a year/18 mo. Stocks w/some margin of safety. Wish I had the facts. JMO. So many ideas coming in, hard to look at, let alone screen, each. Can't post stocks here so very infrequently and expect people to jump on w/comments unless it's really extreme (undervalued or overvalued). JMO. Stuff would be much more to to the liking of a value investor though than APCC, IMO. You can do better or different. Maybe more like your SPF, AVI, HUG and some other low pe potentials. JMO, Senior.