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Technology Stocks : SmartFlex Systems (SFLX) - Blitzkrieg or Sitzkrieg?
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To: Steve168 who wrote (820)7/6/1999 1:48:00 AM
From: double-plus-good   of 848
 
re: stocks at or near cash value

a stock i follow that is trading very near the value of cash, receivables and short-term investments is IINT. it as an enterprise software concern that specializes in serving the energy industry. this last fact has served as the kicker in my decision to take a bigger position. many of the customers to whom iint sells its software have had to intensively focus on y2k solutions. after all, we don't need refinery explosions and nuke meltdowns. cash flow was severely hit in energy concerns by the meltdown in oil and gas prices. now that the situation is reversing improvements in the it sector are overdue among these companies. in my view all the negatives are out and trading at cash makes it a basic no-brainer no matter how you cut the cake.

an interesting side-note was the purchase by Warburg Pincus of a substantial portion of the float above the current price. it is an interesting story in a beaten down sector -- my favorite kind of story.

one other worth mention -- nbix, a biotech that recently approached cash value. the kicker is the milestone payment possibilities which are substantial and the technology. bio-techs burn cash, however, so its not always easy to truly know cash value. last i checked cash was estimated at 3.75 versus a recent stock price of 4 3/4.

good luck, brian
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