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Gold/Mining/Energy : PATHEON INC. (PTI - TORONTO)
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To: Nykol who wrote ()10/31/1997 7:06:00 PM
From: Carl  Read Replies (1) of 147
 
Regretfully, I've sold my PTI today. I decided over the weekend to go to cash, in light of recent market developments. The only stocks I'm still holding are those that are trading near or below book value and near a long-term base (with the exception of INAT which appears to have a mind of its own). Although I still believe PTI has great growth potential, its valuation is just too stretched for comfort at this point. According to Oct. 10 Investor's Digest, book value would be 68 cents. P/S ratio is 1.7, and P/E ratio is 28.3. My feeling is that the risk right now outweighs reward. Any earnings disappointment or continued general market decline could spell trouble. I might miss this one, but there'll be others.

Good luck to all.
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