Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Killian who wrote (53357)	3/18/2000 6:02:00 PM
From: sam	of 122087

Interesting take on the CEGE situation. Genetic Capital seems to think that the market is not valuing CEGE's technology at a significant discount...but rather valuing CEGE's ABGX holdings at a discount. They value CEGE net ABGX at $650m. Thus, CEGE's ABGX holdings are trading at $113 a share (or $160 less than ABGX shares trade on the open market). Savvy investors or arbs should notice they can get ABGX VERY cheaply simply by buying CEGE (rather than ABGX). But, since this is obviously not working out according to plan, Genetic Capital suggests CEGE should spin off its ABGX holdings so that it can gain its true value from the market.

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