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Corrections Corporation of America Message Board

  • Agent00077 Agent00077 Mar 9, 1999 11:48 PM Flag

    Interesting comment about REITS

    Scroll down to the good stuf about REITs. These
    comments are from Bill Fleckenstein at Stocksite. He is
    also on CNBC ... regularly--I think.

    About
    value stocks... Some people have sent me e-mails asking
    why I haven't recommended more value stocks since I
    happen to be a value investor. And it's because while
    there is value in smaller stocks, my fear is that when
    the bubble bursts and the massive panic in the stock
    market ensues, these stocks will be taken
    down as
    well. Even though I see value in small-cap stocks in
    various different areas, I don't think it will be
    sufficient to protect us from what's coming next. So I have
    not chosen to try to till that soil, so to speak. In
    fact, one OTC dealer who covers a broad array of
    securities constantly is telling me how they have all these
    cheap, small-cap stocks that he cannot get a bid for.
    Those kinds of things make me nervous; there seems to
    be no liquidity in these smaller-cap ideas. The
    moral is, if they're illiquid now while the mania is
    still going on, what happens when we have a scramble
    for liquidity?

    The REIT stuff...
    One area
    where people may want to do some work is REITs.
    Although I'm not an expert, I've been told that some of
    these REITs represent very good value and I think the
    dividends may be such that they won't be cut. And obviously
    if you can get a big dividend and get paid to wait,
    then that's a different issue.

    EOM

 
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