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Non-Tech : Modis Professional Services, Inc. (MPS)
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To: Carmine Cammarosano who wrote (287)10/31/1998 12:16:00 PM
From: Chuzzlewit  Read Replies (1) of 335
 
Good morning Carmine,

I am the wrong person to ask! I originally bought at $22 over a year ago, and bought more at $27 around eight months ago. I wish I had followed your lead and sold at $30.

Now, having told you what a bad market timer I am, I still think this is a quality company (Dewan's sexual/legal problems notwithstanding). I used to be involved in companies that provide contract software professionals, and the allure of these companies is that when times are good these companies work out quite well. But what is not generally appreciated is that these companies also do well in uncertain economic conditions because clients don't want the risk of adding full time employees to their payrolls.

Of course, when industry is contracting (pun intended) things are great but when the economy is contracting look out. The other potential negative in this company is foreign currency exchange exposure, but when you pay for staff (along with all other expenses) in local currencies it seems to me that this risk is minimal.

So bottom line: I'm still holding.

But then again, you know my track record here.

TTFN,
CTC
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