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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (7675)	7/6/1999 3:04:00 PM
From: jeffbas	Read Replies (3) of 78747

GZSP at $3 9/16: Believe it or not selling at perhaps 40% of net working capital minus all liabilities with maybe $7 in other assets (discounted by me to estimated market value) on top of that. A GENZ tracking stock which I think is pretty interesting despite the warts. Note the SI posts on the GZSP thread, plus: post.messages.yahoo.com post.messages.yahoo.com Notes: Principal source of pressure is that many institutional owners of GENZ who got this as dividend can't own it by their charter. Net-net will be shrinking for quite some time due to continuing losses from R&D efforts but, in my opinion, even if the next 5 years' R&D is a total flop, liquidation value at that time should still be considerably larger than the current price (extra margin of error). Has $100 million of sales mostly from a real surgical device business. I bought a 1/4 position this morning and would double down twice -- around $3 and $2.

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