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Strategies & Market Trends : Value Investing

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To: Robert Hoefer who wrote (15475)	9/15/2002 1:49:35 PM
From: TimbaBear	Read Replies (3) of 78665

Robert Hoefer "...still don't see any serious problems other than a transparent short attack. They've done an effective job of manipulating the news wires and scaring less sophisticated or committed investors, but they can't change the fundamentals." Have you looked at FLM's cash flows? Just using the cash flow tab at Yahoo "financials" biz.yahoo.com I calculate cash flow over these four quarters appears to me to be a minus $136.76 Million (of course I work from the bottom up on the SCF). Apparently the only positive cash flow they've had is from borrowing money. If I were to take a position (which I don't have or intend to have), I would be among the shorts. Call me a skeptic, but relying on the income statement, or projections from those numbers, or company slide-shows isn't currently prone to giving me a reliable basis from which to determine value. TimbaBear

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