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Strategies & Market Trends : Is TOTAL SERVICE SYSTEMS (TSS) overvalued ?
TSS 133.27-1.0%Sep 17 5:00 PM EST

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To: chester lee who wrote (8)3/31/1997 12:30:00 AM
From: Banjoman   of 43
 
Since Synovus )SNV) owns 80% of TSS, wouldn't the best hedge be to go long 1.25 shares SNV per share of TSS? SNV is only selling at a P/E of 27, vs. TSS at 75 (on 97 earnings). SNV should decline much less than TSS, and SNV's yield is 1.5% - more than offsetting the payouts for TSS's dividend.

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