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Non-Tech : Barnes & Noble (BKS)
BKS 6.4900.0%Aug 19 5:00 PM EST

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To: Stephen who wrote (285)1/21/1999 1:03:00 PM
From: Chuzzlewit  Read Replies (1) of 1691
 
Stephen, all this TA discussion (especially when you are posting to yourself) is beginning to wear thin. Earnings and cash flow is what drives stocks. I have owned BKS for a couple of years now, and am doing quite well on my investment. Daily market gyrations are unimportant, and frankly, boring.

Here is something to mull over: the creation of web-based discounting for books will have a definite impact on the physical bookstore. But, many books are sold by people browsing. Is there going to be some ratio of surviving physical stores to net-stores? Or will physical stores become a rarity and cause a contraction in the number of titles in the publishing sector.

Second, it is apparent to me that companies like BKS and AMZN are not making money on selling books. I believe that there may be a shift of profits to publishers and wholesalers. Could this explain why BKS bought Ingram, and why Bertelsman (which owns Rand House among other publishing companies) is a major investor in barnesandnoble.com?

TTFN,
CTC
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