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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: t2 who wrote (49817)4/10/2002 7:24:45 PM
From: LTK007  Read Replies (2) of 99280
 
<This is a tough stock to figure out since it does seem to have a real business.> o it is real business for sure, but Bernie built it in the most dangerous way to build a company and that is to start with a little twit of a company,Bernie's little telcom he got out of bankruptcy and then to commence what is called a roll-up, as this little company acquires and acquires often just using stock to buy stock and as debts nonetheless build and build.
The stock price grew to high levels from near nothing on the basis of NOT it's profitability but on it's acquisitions.
This type of roll-up is the classic house of cards, and once Bernie could not acquire anymore his SPIEL started to get hollow.
This is the worst method to build a company and history will reveal quite a few train wrecks in this style of "power seeking".
Federal Mogul is but one example. max
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