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

To: Michael Burry who wrote (7308)	5/25/1999 2:00:00 AM
From: jeffbas	Respond to of 78601

A microcap value stock I own of some interest -- SEMI: -out of favor Electronic Distribution -selling at about 55% of $1.35 book value - $280+M sales run rate now - never lost money in this downturn (although $2.9M extraordinary charge in Q4 98 is fishy-looking) -growing sales much better than competitors, but margins stink in the industry -more debt than I like -reverse splitting 1 for 5 next month, to maintain NASDAQ listing, traditional adverse effects of which thoroughly discussed on Yahoo thread -just announced $2 million stock buyback which covers perhaps 25% of the float, and has positive inference about future performance, since I am sure bank OK had to be obtained. Buyback could take care of usual drop on reverse split and stock will at long last be away from penny-stock land. -self-serving family mgmt, not very shareholder friendly, and so-so Board, that gives themselves lots of options VERY BIG minuses. No insider buying. -takeover target at $2 last year, which fell apart because of weakness at the acquiring company (REPT) I am NOT recommending it except to the VERY venturesome. However, in my opinion, the upside far exceeds the downside at this point, and it certainly qualifies on price/book and price/sales as a value stock.

To: Michael Burry who wrote (7308)	5/25/1999 8:49:00 AM
From: James Clarke	Respond to of 78601

<<looks like angly didn't get the bounce people were expecting>> What bounce were people expecting? Last I looked (before the ticker changed the other day to a London listing) it had run from 35 to 55. (I guess in internet-land a mere 60% gain doesn't count for much.) I'm not sure where I mentioned it. All I know is that I wish I had bought it myself. JJC

To: Michael Burry who wrote (7308)	5/25/1999 10:35:00 AM
From: Bob Rudd	Read Replies (1) \| Respond to of 78601

ANGLY {now listed as AAUKV after switching primary listing to London on May 24 with secondary listings in South Africa and Switzerland] Mike, you're to be congratulated for the listing on your web site. I wish I'd seen and acted on it then...great call. I bought on Jim's suggestion [thanks Jim] at about 36 after looking at fundamentals that were unlike any gold stock I've seen. Just prior to symbol change: stocksheet.com Concerned about a shortage, they issued additional shares...news excerpt: <<Shares in the mining house started firm but fell back during the day, knocked by gold bullion's fall to a 20-year low and the company's decision to place an additional 12.6 million shares to avert a potential stock squeeze. Anglo -- whose interests span gold, diamonds, base metals, coal and industrial assets -- retreated from a high of 33.40 pounds to end at 31.90, valuing the firm at 13.0 billion pounds ($20.74 billion). That should win it a place around No. 21 in the FTSE 100 index, forcing tracker funds, which account for around 15 percent of the London market, to buy it heavily.>> They're performance verses other golds has been stupendous and I suspect that after this "Sell on the news" reaction and the absorption of the shares, that there will be a run up into the June 15th listing. At that time, I'll reevaluate.

To: Michael Burry who wrote (7308)	5/25/1999 1:15:00 PM
From: TwoBear	Read Replies (2) \| Respond to of 78601

I don't follow this stock, but I believe many of you do. Anchor Gaming (SLOT), was listed this week in Business Week's 100 Hot Growth Companies at #27. I guess I should check into this one. Anybody by chance remember what post numbers this one was discussed? 2

To: Michael Burry who wrote (7308)	5/25/1999 2:48:00 PM
From: Wallace Rivers	Read Replies (2) \| Respond to of 78601

I am starting to look at a stock I traded a couple of times prior, thankfully for a profit. Perini Construction (PCR) Trades at ridiculously low P/S, PE, and P/B. Richard Blum (financier and husband of Dianne Feinstein), owns a large # of shares, I believe at a substantially higher price than currently quoted. Problems: Large debt load (a portion of which is a preferred which is in arrears, I believe), an industry with very tight margins. Lack of liquidity and sponsorship. Became interested having been at a Red Sox game this weekend (the Sox won 10-8!), and travelled through the "big dig", where there is immense road and infrastructure construction in inner city Boston. Seemed to me to be a business with relatively high barriers to entry. This is being performed by Perini. This type of business is higher margin, per my information. Also has recently lined up new casino construction business in Connecticut. Signed new embassy construction business worldwide. comments?