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

To: Paul Senior who wrote (7007)	5/1/1999 12:18:00 AM
From: Shane M	Respond to of 78748

Paul, I know nothing of the company, but Discover magazine recently ran an article on wineries and vineyards. It turns out that good wine consistently comes from the same plots of land, and those in the know can tell where a grape was grown strictly from the taste of the wine. Chemically grapes from the same plots are similar enough from year to year for this kind of comparison. Has to do with many factors including moisture, exposure to sunlight, soil types, rate a which vine will grow under these conditions, etc. Because of this, In France wine with a certain name must come from certain plots of land. Somewhat different than a commodity. I know nothing of wines beyond what I've read - but I do find science's conclusions interesting. Shane

To: Paul Senior who wrote (7007)	5/2/1999 3:12:00 PM
From: Paul Senior	Read Replies (3) \| Respond to of 78748

With past and recent posts regarding manufactured housing industry - Clayton (CMH, Jim Clarke) and Champion (CHB, Mike Burry), I came across and started looking at Fleetwood (FLE). Whereas CMH does it all re. mfg.'d housing- build, finance, community/parks- - FLE is primarily in two different businesses -building RV's and building mfg. homes. FLE stock is near yearly low but FLE revenues for RV business are at high (I consider this combination more negative than positive, since I believe RV sales to be very cyclical); Fleetwood says its earnings are suffering and this is expected and should be temporary while FLE ramps up their retail sales operation. Potentially, Fleetwood does have the capital and resources to do this successfully though imo. (assuming the market is there). Looking at overall financial ratios d/e, pe, p/bv, ROE, and increasing div. yield- I think the company might be a reasonable investment around these levels. I am considering initiating a small position this week. fwiw,