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Strategies & Market Trends : Value Investing

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To: Dale Baker who wrote (14933)	7/25/2002 1:29:02 PM
From: Paul Senior	Read Replies (3) of 78621

Generally, I'd say volatility isn't equivalent to risk. But in TYC's case: There's a large chop in the price today. Lots of people want out (92M sh. changing hands as I look). In past, TYC either hasn't been honest or forthright with investors. They deny rumors of hiring a bankruptcy attorney firm. Given how I might interpret that in business-speak, maybe they did but are calling the people "workout specialists" or "debtor-in-possession" people or some obfuscating term. Maybe TYC really is planning for bankruptcy. Level of trust with TYC is very low. There was also an article out yesterday on how TYC's $2B dollar investment in undersea cable is only generating under $50M in revenue. (I don't remember exact amounts.) A disastrous, ill-timed, venture though. I inferred from the article that those cap. costs and expenses coupled with little revenue had not been factored into TYC's problems because investors were not aware of the situation. It would seem that the wise decision is to avoid TYC and and others like it. For me though, I'm adding to my position.

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