Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 10.91

-3.5%

1:26 PM EST

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To: FIFO_kid2 who wrote (3117)	7/31/1998 7:59:00 PM
From: Hal Campbell	Read Replies (2) of 17679

<< The cash level per share of a stock should logically be the floor for a stock >> Of course half of the cash is borrowed ....and there may be a period when cash flow from operations remains negative with AXC...in fact there probably will be at least a couple quarters like that. Royalties should increase in '99. But in general I sure agree with you Jeffrey that that is a number to take notice of. Ran a screen of over 10,000 stocks . Only 368 had working capital ( quick assets - liabilities due in one year ) in excess of share price. AXC is very close to that. 966 had quick assets in excess of share price. AXC is there at this price. Not a bad value starting point....certainly an excellent one if you think they will spend the money wisely. With any decline in price from here the value gets more compelling. Gus mentioned that any new sector they compete in will call for fancy footwork. That has not been their specialty up to now.I hope the management teams of acquired companies will handle that end. But acquiring companies at fair value certainly has been Bramson's specialty and, particularly in light of the MicroNet terms, I trust him to do a good job in that regard over time. Which will be good for us. He really is in no position to " hurry" right now though. Always admired John Wooden's dictum - Be Quick But Don't Hurry. Please be quick but don't hurry, Ed. Sorry about the jonestown Kool Aid remark Randy- was alluding to some hidden secret that might cause the death of a company rather than any individuals of course. Good or bad results...as Ed Perry said...there is much to be learned from the Ampex shareholder's experience.

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