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Technology Stocks : General Lithography

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To: Andrew Vance who wrote (503)7/26/1997 9:59:00 PM
From: Ian@SI   of 1305
 
Andrew,

1 slight modification to the plan: After holding for 2 weeks,
move all shares out of margin accounts so that they're no longer
available to be loaned to the "shorters". Then watch the fireworks
begin.

Seriously, when WFR was 38 3/8 some of its key ratios were:

Key Ratios & Measures 5 Year Range Current
P/E 5 - 28 27
Price to Book .9 - 3.1 2.2
Price to Cash Flow 3.5 - 11.8 10.6
Price to Sales .6 - 2.1 1.51
Return on Equity 8.4% - 20.7% 8.4%

While ROE is at the low point for the past 5 years, after adjusting
for the stock losing 24% of its P:

P/E is still well above average;
P/Bk is above average;
PSR is just below the midpoint; for the 5 year range.

What's the probability of seeing low 20s? Am I dreaming in
technicolor?

Ian.
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