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Politics : Ask Michael Burke

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To: Shane M who wrote (64780)	7/18/1999 11:19:00 AM
From: Knighty Tin	Read Replies (1) of 132070

Shane, I've owned puts on Walmart in the past year or two and have had mixed results. The problem is, nobody cares about valuation any more. Beating the # is the entire name of the game among the ignorati, except for a few favorites like Intel and MU that can miss the number by a mile and still go up for no reason. And WMT is expert at guiding the sheep, er, analysts, to an estimate they can beat. So what if earnings yield is a little over 2% and growth is at 20% and likely to decline in the future? It's not like anyone is paying real business prices for Walmart. That off my chest, WMT will die in a general market decline, which I think is imminent. So out of the money 4-6 month puts look solid here.

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