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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (60370)	5/22/1999 7:13:00 PM
From: Knighty Tin	Respond to of 132070

Mike, Given the expansion of spreads, I wonder if LTCM is on the right side this time. It would be ironic if they took the markets down again.

To: Mike M2 who wrote (60370)	5/23/1999 10:23:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Mike, Tice is such a cheerful guy isn't he? <g> Seriously, the amount of information that some astute investors use and think about makes me feel like a simpleton. And I think about these things a lot. (between beers and daily doubles of course <g>) For me the whole investment process is much simpler. I try to guage a company's competitive position and sustainable returns on capital. When I find a company with a significant edge, I wait for it to get cheap based on the valuation models I have developed and borrowed from others. Then I buy it. Usually they get cheap due to short term difficulties in their industry, general market corrections or other temporary problems. I rarely make any decisions based on quarterly developments and projections and such. This process works really well even though I am often premature by 6 months or so. I love all these economics and market discussions, but I am clueless about how to apply them to what I'm doing other than to have a "better understanding" of "why" stock prices got crazy and the whole thing is going to blow up. Wayne