Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: alan who wrote (16331)	2/23/2002 2:08:47 PM
From: Mr. Pink	Read Replies (5) of 18998

Mr. P$nk initiates on LRCX: LAM Research with rating T3/5. Company has an insane valuation of $2.5 billion. Very shady accounting. (derivitives, revenue recognition etc.) Business model sucks. Company provides low margin etching business for FABs. NO NEW FABS being BUILT. Revenues trending down from 40mm/quarter to 100 mm this June. Peak earnings were $1.35. Company losing money for at least 2 more years. Average earnings are around 0.75 and even at 15X should trade at 12 in best case. Mr. P$nk recommends immediates short position. Mr. P$nk All statements are the opinion of Mr. P$nk who may maintain a short or long position and may increase short or cover without warning.

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