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

To: Michael Burry who wrote (7087)	5/7/1999 10:32:00 PM
From: James Clarke	Respond to of 78470

You're beyond me here. The problem I have with Security Analysis is that the marginal utility of doing some of this stuff is far less than its marginal cost in terms of time and effort. When faced with a company with very strange accounting I will go to such methods, and it often sheds light on things in that case. For an industry, return on equity (with past writeoffs left in the numbers - i.e. not "added back") or return on capital is going to give you the right answer. JJC

To: Michael Burry who wrote (7087)	5/7/1999 11:32:00 PM
From: TwoBear	Read Replies (1) \| Respond to of 78470

Update: VAR has quietly moved up 20%. I have been researching another stock that I thought was worthy of mentioning. Steel Technologies Inc. (STTX). STTX is an intermediate steel processor engaged in the business of processing flat rolled steel for industrial customers who specify thickness, width, temper, finish and shape (Yahoo). First the numbers: Price/Book (mrq) 0.92 Price/Earnings (ttm) 9.78 Price/Sales (ttm) 0.28 Per-Share Data Book Value (mrq) $10.12 Earnings (ttm) $0.95 Sales (ttm) $33.71 Cash (mrq) $1.05 Annual Dividend (indicated) $0.12 Dividend Yield 1.29% Recently announced excellent earnings with a 20% upside surprise and subsequently received two upgrades but is still trading below book. On the TA side it has broken through a year-long down trend to the upside. I recently heard that the government is trying to inhibit steel importation from Japan. Now, is this beneficial for the U.S. Steel industry? I'm not sure. Couldn't hurt. Has this one come up on anyone's screen? Does anybody know about any skeletons? Let me know. 2

To: Michael Burry who wrote (7087)	5/8/1999 8:55:00 AM
From: TwoBear	Respond to of 78470

I know this is a value board, but I know that some of us look at technicals sometimes to decide when to enter a value position. I found a great site for the technically challenged. If your interested check it out. (Disclaimer) I have nothing to do with the site and I am only posting for informational value to other members. equities.barchart.com 2