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Strategies & Market Trends : Value Investing

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To: edokeefe who wrote (1398)	6/27/1997 2:43:00 AM
From: Paul Senior	of 78746

Edokeefe: re RACC. As could be expected, div. eliminated. At price in low 4's, then RACC needs to earn only the skipped div of .36 to have a pe of 12. Stock is slipping away from me - price is going up -as I keep thinking about Co. Co with a lot of problems - Big 'uns (they are gonna cut revenue 30%, for example). Still... much is already reflected in the price. And some positives: new CEO, book of 7 (I figure take $2 off the current $9 because of 22m reserve), business still on the books, general industry problem (too quick to loan or too many customers skipping)- an out-of-favor business. It's a stock which leaves me with the impression it could go to zero (bankruptcy) easier than it could just stay in 3-4 range. I am still trying to get more info, but for me stock looks like an add to my portfolio at under 4. Bet for me would be it reaches 7-8 (book) in say maybe 3-4 years. Paul Senior

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