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Non-Tech : OAKLEY- NYSE:OO

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To: IN_GOD_I_TRUST who wrote (111)	1/15/1997 8:39:00 PM
From: Razz	of 1383

Steve; OO is selling at a 24% discount of the avg. P/E for optical cos. (11.11 v. 14.7) The revised earnings estimate for the 4Q I believe are at 9cents. I believe that they will be even lower due to the expensing of the cost of new headquarters most of which will occur during this Q. Look up the 10K in Edgar. OO biz is cyclical in nature and sales are usually lower in the winter. There appears to be short selling in a substantial scale. I think that the bottom will stop at 8 (2.5x book value) which is a good time to buy for a 6 to 12 month timeframe, assuming that the ice under the market does not crack and we all fall in. In my experience, buying into companies that have been hammered by fund managers but otherwise have excellent product and management(a plus is when mngt also owns a large % of the shares such as in the case 50% +) and no debt, works if one does not buy too early after the "bad" news and has the patience to sit it out. Good luck, don't put all your eggs in one basket. RAZ

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