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Non-Tech : Any info about Iomega (IOM)?
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To: Young D.T. Nguyen who wrote (2263)5/31/1996 10:20:00 AM
From: Zoltan!   of 58324
 
ADAM SMITH WEIGHS IN ON IOMEGA

Last night's "Nightly Business Report" featured a commentary by PBS's Adam Smith. Smith's focus was on ONE stock, IOMEGA, and what it illustrates. He sees "an exciting summer ahead, just make sure you know where the exits are".

Smith sees a company with a book value of 50 cents /share and a current stock market valuation of $6,000,000,000. He admonishes that he has seen these parties before as a portfolio manager and as the fall follows summer such stocks "go down with equal speed". Finds the problems lies "with investors who don't bother to compute the market value of the company and compare it with the actual size of the company". He finds today's market more perilous for such stocks than 1929 or 1987.

Smith ends stating:
"Parties are wonderful as long as they last, but I think before I edge my way to the punch bowl I want to know where the red exit sign is. Caveat emptor and see you at the punch bowl".

-Now tell me, what axe does Adam Smith have to grind ?

Note: At the beginning of last summer Adam Smith predicted the fall of the semiconductor stocks on similar though not identical grounds. Micron was then trading at about 3 times its current stock price.

-I have no position in this stock, I am not a gambler.

Regards
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