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Politics : Ask Michael Burke
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To: bob s who wrote (24952)12/8/1997 11:58:00 AM
From: Knighty Tin  Read Replies (2) of 132070
 
Bob, I hate Citicorp now and have all through this runup. I haven't bought puts yet, as every scam Alan Greenspan pulled over his tenure has been designed to save Citicorp from bankruptcy. I think it will eventually backfire, but it hasn't hurt the shares yet. So, I am waiting.

Clear Channel is in radio, the technology of the 1930s. They are operating like the 1960s conglomerates, using their overpriced stock to buy underpriced eps, which the dum-dum market then capitalizes at the overpriced multiple. Just as the conglomerate fans, and I was one of those misguided souls, learned their lesson after several black eyes, the radio heads are destined to do the same. I think Murph has it right this time. MB
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