PSFT - 1999: The "Make-It-or-Break-It" Year? Message Board

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Technology Stocks : PSFT - 1999: The "Make-It-or-Break-It" Year?

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Oct 29 5:00 PM EST

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To: bob zagorin who wrote (292)	3/24/1999 1:32:00 AM
From: Michael Burry	Read Replies (1) of 1274

the last earnings announcement has a few interesting things, two of which are that PSFT is going to grow revenue 20-30% (nearly all services, not indicative of momentum), decent cash flow of several hundred million (of course, without adequate R&D going on). When I went to write my story on PSFT, I keyed on that announcement for at least part of the good side, and found a bunch of dead ends after superficial digging; and that backbone/installed base is suspect as it was explained to me by an analyst that covers them (one with a buy on them). what gave psft its pop was its huge growth; i've got a list of stocks that are low/no growth but profitable/cash flow rich which are at single digit PE's, and JD Edwards is sitting there at 1.5 sales; this market is ruthless if you're not growing, and cares not a wit about low-growth profits. ruthless; we'll see we're everything ends up. mike

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