International Properties Group (IPX-TSE) Message Board

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Gold/Mining/Energy : International Properties Group (IPX-TSE)

IPX 39.90

-4.2%

2:23 PM EST

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To: Jason Krueger who wrote (13)	10/31/1997 6:39:00 PM
From: Carl	Read Replies (1) of 104

I've been gradually unwinding many of my equity positions this week in anticipation of more general market weakness. What I've been doing is looking at the underlying value of the companies I own and selling anything trading at a premium to book value. My feeling is that this is not a correction, but the start of a real bear market. I called IPX yesterday and determined that the book value is 1.04. I've decided to keep my shares because I don't think it will trade much below 1.25, and I'm prepared to ride it out in anticipation of better things to come next year. I believe the company will meet its projections and that the stock will trade much higher next year. Of course, a steep rise in interest rates could throw a wrench into things, but I don't see that in the cards at this point. Good luck to all.

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