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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (4642)8/11/1998 1:16:00 PM
From: S. Thomas   of 78666
 
Paul Senior:

On BTJ

Appreciate the comments. I did note the deficiency with regard to "value" as book value and assets, but subsequently saw info. regarding patents etc. The current low PE also is aided by tax loss carry forwards. I was (and am) impressed by the revenue and earnings growth but cautious because of some of the facts you stated as well as insider activity (almost all sales).

On FI, I could not find the rationale for holding on with the reorg.
Petrofinal will acquire 100% of the subsidiary paying 90% of the current market price in cash, and 5 year warrants to purchase 90% as many shares of Petrofina at well above recent market prices. And the proposal was approved by shareholders!

Thanks, S.T.
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