Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: BDR who wrote (18245)	6/18/1999 10:30:00 AM
From: Mark L.	Read Replies (3) of 18691

While I have no opinion on LRW, I do have one on Snapple. I was one of the investors who sold out to Quaker Oats (I know what you're thinking--no, I'm not worth a gazillion dollars. I had a very small piece; Tom Lee had the big piece). There is such a thing as branded premium ice tea. We proved that, and then Arizona Iced Tea proved it again. While it is true that we got a good price for Snapple, I believe that, for instance, it was more possible for Snapple to grow into its valuation than, say, Yahoo. We had fabulous demographics and wonderful sales momentum. The difference is that Yahoo is superbly managed, and they are carefully improving and leveraging their brand recognition, while Quaker dropped the ball with Snapple. The fact that you couldn't even remember the Snapple name says it all.

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