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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (20430)	5/4/2005 4:16:48 PM
From: Paul Senior	of 78666

GTSI: To me, it's primarily a bet on Mr. Young, the entrepreneurial chairman and ceo. (Although GTSI p/bk and psr look attractive too to me.) In the annual report I received today Mr. Young maintains his confidence in making big initiatives to improve the company. If he's wrong, the stock will pay the price. Even now it continues dropping. Having observed Mr. Young's performance over the past few years and reading favorable media reports about him, I'm willing to stick with GTSI, and at the stock's current $8.50/sh., I've added a bit more to my small position.

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