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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (9225)	12/9/1999 3:53:00 PM
From: James Clarke	Read Replies (2) of 78596

Your risk if you buy Tyco even here is that 1) The P/E is still 18 times on a trailing basis, not that anybody has any idea what they earn then or going forward; 2) We could be looking at outright accounting fraud here - no way to know that at this stage, but the SEC is going to find something. I defy anybody to look at Tyco's financials and tell me with any certainty what they earn. Yet every Wall Street analyst thinks they can forecast its growth - the company has written off every dollar it earned in the last couple years! Looks like Mr. Tice gets the last laugh here.

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