Deswell Industries (DSWL) Message Board

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Technology Stocks : Deswell Industries (DSWL)

DSWL 3.420

+4.0%

11:36 AM EST

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To: Michael Burry who wrote (1227)	3/16/1999 2:17:00 PM
From: Ron Bower	of 1418

Mike, Per Yahoo posts- Buying the entire company. 12-30-98, they had net cash liquidity of $7.34/s. At $9.00, buying the fixed assets for $1.66 - probably less than earnings this coming year, far less than the cash they will generate. One year from now, they probably will have over $9.00 cash depending on capital expenditures. BV was $8.75/s. A conservative actual value after minority interests would be over $12.00/s. At $9.00, getting the company at a 25% or greater discount to the net value of cash and assets with no allowance for goodwill = earnings. Didn't add yesterday and now regretting it. Oh well, maybe it will soften again. FWIW, Ron

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