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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (9091)	12/1/1999 7:34:00 PM
From: Ron Bower	Read Replies (3) of 78652

Paul, Checked back to see if anyone had looked at WAK. I've been doing DD and took a small position in WAKB today with intentions of adding if it still looks good after I go deeper into it. I looked at WAK's 52+% ownership of WHC ($12+) - equals over $9.00 per WAK share. Added over $4.00 cash and other assets, deducted goodwill. Ends up well above the -$10 price. Also influenced by consistent 20-30% rev and earnings growth for both companies, their plans for expanding into related sectors, and the international growth. $1.29 projected for '99, $1.50 for 2000. I felt this to be a good sector. Outsourcing security and related has been a trend that should continue. According to Schwab, analysts on WAK = 4/SB, 7 on WHC =4/SB & 3/B. No insider selling. Why the sell off from $30 to $10? Ron

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