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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Pancho Villa who wrote (3341)2/20/1998 4:45:00 PM
From: Pancho Villa  Read Replies (3) of 18691
 
To All: BFIT: IMO hedge funds are watching... Once a couple of big fish are short big time they will set the wheels in motion to:

1. Make sure the truth about the fundamentals of BFIT and their unattractive business get out. The fact that most of their revenues [membership dues and finance charges] come from a scam in which people are coerced/tricked into signing a 3-4 year contract which is virtually impossible to cancell, when they will only go to the gym the first two weeks of January!, will come out. [They manage to get a signature out of mature, experienced people, never mind an inexperienced 18 year old]

2. Make sure people with half a brain see how the financials/market facts clearly show this company does not stand a chance to improve profitability/cash flow to reduce debt and provide an adequate return to investors. [The 20% margin on membership fees won't happen. All the wonderful new sources of revenue won't materialize in Gym's half empty most of the years, and those attending getting their stuff somewhere else at lower prices]. IMO we should see a drop "RAYS style" on this one. IMO RAYS was a less dangerous long when it traded above 35 than this dog at 27.

3. Once someone is short into the millions they may get the legal wheels to start turning. Making people sign a 3-4 year contract that is virtually impossible to cancell and pay 18% + finance charges is definitely a scam. It may be legal but it is still a scam. It is not normal to expect an 18 year old kid [or any one] to make this type of a commitment. For example, a class action suit may develop/ and federal/state consumer protection agencies may step in. Let's see what happens to the stock price then.

Pancho
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