Cendant Corporation (NYSE:CD) Message Board

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Non-Tech : Cendant Corporation (NYSE:CD)

CD 4.850

-0.5%

Jan 9 9:30 AM EST

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To: 16yearcycle who wrote (974)	7/14/1998 11:42:00 AM
From: mauser96	Read Replies (2) of 3627

Professional money managers are slow to forgive being deceived, and it will be a long time before this rose blooms again. Nevertheless, one of the few ways you can beat the market is by being less prone to panic and having a longer term outlook , so I added to my position today. I've found that averaging down is usually a mistake, but hopefully this will be an exception. The accounting errors will lead to some new management, which will be good for the company. At present levels top management has lost a lot of money themselves, so they have a strong incentive to fix the problems. At a price of 17, and 1999 earnings of $1.38, this stock is selling at a 12.3 forward P/E., with an anticipated growth rate of 19% or so. These figures are my estimate taking today's news into account, and they make Cendant a buy for value investors.

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