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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Broken_Clock who wrote (15668)3/20/1998 1:43:00 PM
From: Chuzzlewit  Read Replies (1) of 95453
 
PK, let me give you a real life example -- Glen (aka Beeblbrox) knows about this one.

I bought CKR, a restaurant chain, at about $30 several months ago. It was a nice growth story. It recently decided to expand by buying restaurants from its franchisees, and financing the debt through a combination of sales of some restaurants and the issuance of debt. The large amount of debt required raised significant flags in my mind about the ability of the restaurant to pay its obligations in case its anticipated turn-around of the newly acquired restaurants didn't go according to schedule. I sold a few weeks ago at 42 1/2. The stock is now trading at around $36. I sold because I felt the growth prospects of the investment were compromised. That was the trigger. I made similar decisions this past year with respect to IBM, OXHP, PAIR, and SEG. Of these stock, PAIR was the only one that I had bought in 1987.

Regards,

Paul
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