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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Douglas V. Fant who wrote (34528)1/8/1999 12:00:00 PM
From: marc chatman  Read Replies (1) of 95453
 
Doug, I'm curious about that as well.

The companies with a lot of debt may not be in a position to take a lot of write-offs, as it could hurt their ability to borrow. I also wonder about the financial savvy of some of these companies -- everyone who has picked up a newspaper or watched cnbc in the past few years understands the "game" is to get WS analysts to publish low earnings estimates, so the companies can easily beat them. Yet the OS companies don't seem to play this game very well.
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