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Biotech / Medical : Biosource International
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To: Steven Dopp who wrote (385)1/5/1998 10:00:00 PM
From: Bill Hyres   of 696
 
Steven,

Nice to see a fellow NAIC follower.Thanks for the review. Our club SSG came out somewhat similar to yours. To me this gives a confirmation of our clubs analysis. I plugged in a 25% Sales growth and EPS growth. Considering this is a small cap I used a more severe low price of 3 just to give us a worse case scenario. I used a 1.07 eps for 5 years out. Our buy range came in from 3 to 11-1/2. We bought a little before you in October at 6-5/8. The fortunate thing for most NAIC clubs is the training we do on longterm thinking. We want to double our money every 3-5 years or at least 20% per year. Patience will pay off.

Remember that the focus has been removed from the Europeon weakness vs the dollar due to the Asian Flu. BIOI had to back up a little because the currency exchange detered some projected earnings thus the share value was hurt. Before BIOI took over the Europeon business they were losing money! BIOI made them profitable in one year. If these guys keep up the good work our time will come. Patience.

Bill
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