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Non-Tech : Barnes & Noble (BKS)

BKS 6.490

0.0%

Aug 19 5:00 PM EST

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To: Satellite Mike who wrote (260)	1/13/1999 8:41:00 PM
From: Stephen	Read Replies (1) of 1691

Mike ... somebody was joking the other day that there is no spelling error when you type 'internut' !! ....& I guess I'll find out if they are joking in a moment. As for the IPO ... some people had the foresight to buy DBCC at under 4 for the MKWT IPO. They had quite a wait ... but I'm sure they feel it is worth it. With BKS there may not be the same return, but the company is looking to have a stellar yr 2000, and has confirmed that they will meet earnings this qtr... so no warning is assured (after Borders!). However, as a word of caution, the price weakness is probably due to the high PE for unspectacular projected growth this year ... but I don't really care as when the IPO details come out and they don't have that expense, the books will look a lot better. Given that they will also own 50% of their IPO spin-off ... they are going to look awful cheap at twice this price imho. In the last couple of days, I've also seen people mention BKS in an indirect reference to their topic.... so its obviously not far away from their plans. I'm down on my investment so far ... but I only have half my position and was busy playing with ASND/CIEN/INHN today, otherwise I would have bought more ...frankly I also thought ASND was a better rebound play. I have no intention of playing with the internuts at these prices .... too much downside for a risk adverse person like me !!. So, I am happy to look a little further down the road. I prefer the less return/capital preservation no matter what happens model !! Good luck Stephen

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