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Non-Tech : OAKLEY- NYSE:OO

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To: Dr. Jeff who wrote (681)	6/30/1997 12:37:00 AM
From: giles	of 1383

Think you were a little hard on Buffet just b/c he did not invest in Intel. How many investment opportunities have we all missed. He became the 2nd richest man in the US by investing well. Outstanding if you ask me. Also, the fact that he only invests in what he understands seems a smart move to me. Sunglass sales is thankfully a simple enough concept for me to grasp. But enough on that. I agree with you that the next few months of OO's uptrend seems to depend a lot on 2nd Q earnings. With good earnings or explainable earnings, I see the following scenario: Barron's OOarticle is read by many including analysts who think turnaround possible. Good earnings confirms this. Stock is now just rated a hold by all Zach's analysts and any future upward momentum should result in many upgrades. Each upgrade continues to boost stock price. New product releases per Barron's will also draw positive attention. The continuation of the current focus on sunglasses as a growth industry will help further. After next quarter, the last quarter and the first quarter next year will have great earnings comparisons b/c of the decline in sales and poor earnings for the comparable period last year and this year's 1st quarter. OO will look really good, in comparison for those 2 quarters. If all things go right, one year from now may be the first time for me to consider seriously selling OO (maybe at 30+) . I also hope there's a buyout, but I just don't see it as likely b/c of the concentration of stock in Jannard's hands. The CFO's refusal to discuss the growth prospects of the company with BARRON's, missing a good PR opportunity did make me wonder about a buyout possiblity though my being long on OO and holding options too increases desire to find any inuendos for a buyout and my level of hope probably goes well beyond reality. Also, one officer sold a small amount of stock last month and he wouldn't do that if he thought there would be a buyout soon although I doubt if anyone would be in that loop other than Jannard. I also think we'll see 15 tomorrow at least for a while since the seeds of a success stock were planted quite well. Turnaround situation. Increased foreign sales. New products. Good response to new products. Growth area. Sunglasses now where gym shoes were 15years ago before the big big surge.. but again I'm long on OO and bias in favor of its short & long term prospects

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