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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (11388)	11/2/2000 7:15:38 PM
From: Bob Rudd	Read Replies (1) of 78633

Madharry RWY: Im looking at it right now. If you ignore the contingent liability of shareholder suits and accept their preliminary estimate of roughly $35mm non-cash hit to 2000 earnings, it looks like a screaming buy. But ignoring that legal hit is like ignoring a full size alligator in your swimming pool. The market cap hit was about $425mm based on prior share price - current share price * shares outstanding. And then there's legal costs, punitive damages and whatever. I wish I knew a reliable way to estimate the hit they're gonna take on this but, considering the unpredictability of the judicial system, I don't. And until I get a bit of handle on that, I'm not jumping in the pool with the alligator.

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