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

To: Michael Burry who wrote (6882)	4/21/1999 10:40:00 PM
From: Stewart Whitman	Read Replies (1) \| Respond to of 78495

I remember some people were talking about CNA and Loews. I saw a piece in Forbes that mentioned that CNA owns about 10% of Global Crossings (now a $20B company). This looks interesting to me. Here's a link to Forbes piece (the CNA part is at the bottom). forbes.com Regards, Stew

To: Michael Burry who wrote (6882)	4/22/1999 12:50:00 AM
From: James Clarke	Read Replies (1) \| Respond to of 78495

I'd stick with CPU for at least 6 months and then reevaluate. Something good could very well happen, and you know they're not going bankrupt anytime soon. I would also have a very firm price target on the thing if something good does happen. Just my opinion.

To: Michael Burry who wrote (6882)	4/22/1999 8:45:00 AM
From: Dan Meleney	Read Replies (2) \| Respond to of 78495

Mike, I disagree on CPU future: But some of that depends on our definition of how long the future is. Two years or ten? I looked closely at CPU in early 98. Price about 33. PVing my projected earnings, I valued it at 17. When it fell below 17, I took another look, thinking I could now get in at a discount due to short term bad news. But now I dismiss it because of the business model that I think is doomed. IMO: Two years from now, CPU will still be around. But it will be gone in ten or less. There won't be a national physical chain of stores. Software will directly downloaded or, like TurboTax, an impulse buy at Walmart. Little odds and ends will also be picked up at Walmart. PCs will be sold over the net or at non-specialty stores as they become even more of a commodity item. So where does CPU land? It may be a showroom for PCs, but I doubt it. More likely it will evolve into a service shop. I think you can take the internet retail concept a step further to apply to everyone in the mall to some extent. The information age explosion eliminates the need for so much of what's there. Why should I go to the kids Gap store in three different malls to find 6 pairs of jeans for my 9 year old son for school? I know his size and what I want. I should be able to just click on style, size, and color and have them arrive at my doorstep. And I do. My wife bought EVERY Christmas present via the net last year. Time and convenience needs will kill brick and mortar. Dan