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Strategies & Market Trends : Value Investing
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To: Grommit who wrote (9923)2/9/2000 8:09:00 PM
From: jeffbas   of 78702
 
I do not have a problem with BL. However, I will bet that the website is a net expense generator (reducing income on a long term basis). How the (probably not cheap IBM) development expense will be handled will be an interesting event for next year's earnings. One could still be OK with that on the theory that it is a "market-protecting" expense.
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