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

To: Dan Meleney who wrote (7159)	5/17/1999 9:45:00 AM
From: jeffbas	Respond to of 78470

EGXP. When do you expect the value to be unlocked? What will be the catalyst? They have not announced a cash dividend to shareholders. Why not? Do you know that they are honest and won't spend the money on a deal with their brother-in-law down the street. If honest, do you know that they aren't dumb and won't make a bad deal with the money? What is their past operating record? Disclosure: I know nothing about the company other than what Peter said. These are just general questions.

To: Dan Meleney who wrote (7159)	5/17/1999 10:24:00 AM
From: Bob Rudd	Read Replies (1) \| Respond to of 78470

Dan: EGXP One other trifling issue is the 28% bid ask spread. Agree with Jeffrey that controlling shareholders can find a lot of creative ways to extract the cash...if it's really there. General rule "If it looks too good to be true...it usually is" applies exponentially in BB stocks.

To: Dan Meleney who wrote (7159)	5/17/1999 11:39:00 AM
From: porcupine --''''>	Respond to of 78470

"...I've no experience with BB stocks. Any pitfalls to beware?" Not until you try to sell.

To: Dan Meleney who wrote (7159)	5/17/1999 12:53:00 PM
From: peter michaelson	Read Replies (1) \| Respond to of 78470

Dan: I agree with the other comments re Eagle Exploration. I have never been able to buy lower than the ask, nor sell higher than the bid. The spreads are extraordinary. It tends to be a losing battle, for sure. That said, I do think value will most likely emerge at some future point. This is one of those 0.1% of portfolio deals. While I'm posting, I'd like to thank you guys for the excellent picks. I do my own due diligence, of course, but finding the needle in the haystack is the tough part. Thanks for sharing New Holland, Deswell, and others. Jim, congratulations on USU. I had a nice bid in at $9 7/8, but didn't get any. Too late now, it seems. Great pick. Peter