Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Roger A. Babb who wrote (4982)	8/28/1997 8:23:00 AM
From: Timoteo	of 9285

Roger- I am more bearish than others on HFI, though for different reasons. I would guess they have some type of liability insurance for the beef problem, so doubt that will materially affect them. On the other hand, their credibility is seriously damaged by the bad PR, regardless of what % of their business is beef. FDA investigations can only raise more bad news. I believe there is some damage control going on with the upgrade, which makes absolutely no sense if one thinks about it. I think there is a dead cat bounce that has peaked out and expect the stock price to erode. Did not check institutional ownership, but I guess a lot of funds would like to slip out of this one before the end of the quarter; certainly before the end of the year. I would hang on to your short for at least 15%; I see no upside from here, and any charges to earnings in the future will just be a reminder of bad news from the past. All the best, Timoteo

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