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Gold/Mining/Energy : mxp (mesa Inc)

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To: Ron Schipper who wrote (264)	4/10/1997 9:05:00 PM
From: Bagladdy	of 394

Ron and All, MXP dipped to 4 7/8 today...thought I heard Rainwater's heart beating in the distance. So far there has been a negative impact. Do you think that any/all of this volume is institutional selling. Maybe a better way of asking this is do you think this volume is mostly institutional? A possible scenario: Rainwater & Associates postulate that institutions who need quarterly numbers and small investors who bought the turn-around would bail out after the announcement and take the price down to $5.00, but not lower. They (insiders) then buy the bargain because it is their company and they are long term players. What do they care; 5x1, 6x1 or 7x1, they are in for the combined borrowing power to make acquitions, create and build wealth, not short term profits. RR bought Disney for the Bass Brothers when it was down and created an empire for them as well as himself. This may be his second stroll down this path. I am getting the sense that this is an insiders move and if the small investor (you and I) thinks like he does, then so be it, you (we) will build value; and if you don't and decide to bail out they are not really concerned. This is just my thoughts for the moment. Trying to make sense out it! Comments, opinions anyone? Charles

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