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Strategies & Market Trends : Value Investing

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To: Bob Rudd who wrote (14974)	9/12/2002 1:53:59 PM
From: Bob Rudd	Read Replies (1) of 78627

TYC: Bailed today, having substantially reduced, but by no means erased lossed thru purchases at lower levels. There's plenty of negative news flow potential from the cleansing process ahead...and there's tax selling season, so I may get back in on another dive. My timing on this has pretty much sucked...so I'm probably early. The last time I tried to put an enterprise multiple on this, I couldn't figure it out well enough to do it, but today they mentioned expectations for lower earnings down to $2share giving a PE of 9. I know they got a pile of debt so enterprize multiple is well north of there. I think the new guys are top notch, but I would be amazed if they don't, at some point in the not so distant future, announce the mother of all BIG BATHS to put all the nasties [and probably some of the future operating costs] in the rear view mirror. I'm gonna hide and watch while the market reflects on this.

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