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Non-Tech : Tyco International Limited (TYC)
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To: rich evans who wrote (3598)10/27/2002 9:14:14 AM
From: Larry S.   of 3770
 
Yacktman is the fund manager with very large position in TYC, another fund with large positions are Clipper, which has excellent record. other deep value funds are all over TYC in the low teens.
Yachtman said people loved TYC at 50 and hated it at 10, perfect time to accumulate it. The lawyers are 60% thru their analysis of TYC's books, one restatement necessary so far re ADT - no apparent mother hairballs. It looks like the crooks were mainly focused on feeding themselves, and the businesses themselves were solid businesses and TYC did extract efficiencies after acquiring them. Yes, they did use aggressive accounting tactics, like having the companies being acquired write off everything and pay bill in advance, so that they would look better once in the fold. but is this illegal? or smart management. I think TYC is going to significantly surprise folks to the upside. the new management is top notch, they will root out the problems, clean house, sell some assets, and MAKE MONEY. larry
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