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Non-Tech : Guess (GES)
GES 17.01+0.2%Nov 3 3:59 PM EST

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To: Alexander Hardin who wrote (7)10/13/1997 9:55:00 PM
From: Pancho Villa   of 64
 
Alex, right now the stock is a hold for me. last time I looked at it (when they announced last quarter's results). May overall assessment was that results for the next few quarters will not be good enough to meve the price significantly. They had top resort to capitalizing display pieces (to then amortize them over a period) instead of treating them as an expense, in order to bost results. When you have to resort to manipulation of such small stuff to show numbers, the reason behind id that business is not that great. One negative for the stock is the heavy debt burden that the Marciano bros. (as typical European owners) operate with. Yet I believe long term this is one of the great american brands selling at around 10X earnings
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