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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: ild who wrote (139294)12/19/2001 9:23:25 AM
From: reaper  Read Replies (1) of 436258
 
sorry, i mis-understood. thought you were talking about Yahoo! the stock, not the stats for ANN on Yahoo!.

yes, ANN does have +/- $20/share of book-value. but about half of that is goodwill (which arose from a prior acquisition). one could argue (and obviously i would be "one") that since ANN as a matter of course generates no cash and earns a return on capital that is less than its cost of capital, that "goodwill" really has no value and will be written off in due course. thus my price target of single digits.

cheers
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