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Strategies & Market Trends : Value Investing

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To: Grommit who wrote (14488)	5/18/2002 7:53:42 AM
From: Wallace Rivers	Read Replies (1) of 78565

This, from Yahoo ALD message board, is one person's take on the Velocita/Loewen situation in ALD. Does this make sense to those knowledgeable about this situation? Re: Another shoe drops by: phattymelt (35/M/NJ, USA) Long-Term Sentiment: Buy 05/18/02 12:07 am Msg: 3583 of 3590 Let's put this in perspective. On 10-Q, carrying value of Velocita debt = $4.3m, Alderwoods debt = $6.1m, Alderwood equity = $3m. Total = $13.4m. Even if these had to be written down to zero, that's 0.8% of assets. At 102.4m diluted shares, that's .13 per share non-cash earnings hit. These two positions really aren't significant. Also, I doubt Alderwoods is worthless since it is now post-bankruptcy. Maybe Mr. Einhorn is implying that these 2 examples indicate a much larger problem. I seriuosly doubt that is true.

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