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S. Thomas: BTJ. Looks to me like you have to be very knowledgeable in the oil bidness to evaluate this one. With a p/bv of 4, a psr of 2.4, selling about 8.5 in the year's range of 5-10.3/4, and 39 employees-- I sure can't see any margin of safety. Especially in an industry (oil drilling, explor., maintenance??) where other companies are struggling now... how this co. can still earn 50% ROE, I question. Yahoo (all my info from Yahoo)says some sales, earnings due to replacement parts, so maybe there's a good proprietary "razor blade" product or products there. When I think of seismography, I think SLB. Sure would hate to go up against those guys. BTJ reminds me of one of those small dink businesses that went public and never should have public investors. JMO, and I've been wrong many times before. Of course, I defer to your knowledge of the industry (no sarcasm intended), since I notice you've bought other related? co's. And nice call you made on FI, I believe. But you'll not convince me to buy BTJ at current price -g-. Paul Senior |
