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Strategies & Market Trends : Value Investing
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To: Brendan W who wrote (13004)8/29/2001 6:53:01 PM
From: Dale Baker  Read Replies (1) of 78751
 
Yes, that is about right - so VIAN would run out of cash in four years at current burn rates and current business conditions.

With $3 per share in cash, I could understand VIAN trading at $2, but not close to $1. Discounting two full years of cash burn in the middle of a tech recession seems excessive, given the odds of either a buyout by a bigger consulting firm or a plain old business rebound in 2002.

VIAN is less than 15 of my portfolio, strictly a "what if" bet based on their cash hoard. But the image that comes to mind is a modest, homely little waif with $100 bills hanging out of every pocket.
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