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Politics : Ask Michael Burke

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To: Michael Bakunin who wrote (59232)	5/13/1999 12:07:00 PM
From: michel petit	Read Replies (1) of 132070

The price you paid for LPGL was at discount to the value of their insurance and financial business.At today's price(~$27)I agree that this discount has been eliminated.But you still pay very little for the VC business that is worth at least the capital they invested in these business and probably much more .This is this part of LPGL that you get at a discount. Message 9116627 Let's say that their investments are worth only 50% of the amount calculated in this posting,this is still a value of $120 million and they have a roster of other companies that may become public in 1999. All this is not reflected in the stock price.I consider myself as a conservative investor but some business have an intangible value that is hard to quantify but impossible to deny.

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