Drill-Quip [ DRQ ] - oil drilling equipment ipo Message Board

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Gold/Mining/Energy : Drill-Quip [ DRQ ] - oil drilling equipment ipo

DRQ 22.78

+4.2%

Jan 2 3:59 PM EST

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To: giddy guru who wrote (82)	11/18/1997 5:38:00 PM
From: Michael P. Michaud	Read Replies (1) of 121

Hi giddy, Thanks for your question re: currency fluctuations. I have no doubt the Korean won may may fall to 1200 to 1 us dollar, which represents about a 20% devaluation. This should, in theory affect ADR's of Korean companies. Growth may slow to 4% in ASIA, aslo bearish. There is blood in the streets, and a good contrarian move may be to buy (which I have done). I look to buy growth at a reasonable price and by all measures PKH and SKM are severely undervalued at current prices. SKM, for example has about the same growth rate as DRQ (30% annually) yet it's PE is 11. At some point things will turn around, maybe a year or two. I hope DRQ will turn around as well!!! Mike

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