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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: Daskin who wrote (1442)	5/29/1999 11:04:00 AM
From: American Spirit	Read Replies (2) of 1691

BKS - during the IPO period it acted totally unlike any other backdoor, to the downside. It got hit after the IPO even though there was no run-up prior to it (unless you want to count the modest run-up 1-3 months prior). The important thing to consider here is that the worst behind us now. BKS may not come back into favor right away but it now stands as a value play with considerable upside potential. BKS and BNBN both look undervalued as hell here and the downside should be almost nil. My apologies and sympathies for those (like me) who played and promoted BKS long for the IPO run-up (which never happened). However, the bright side is that the depressing reaction has created a bottom. I will hold my shares or switch some of them for other bargains (taking the tax loss). Within weeks BKS should start a steady rise back to respectable levels. Never forget it is the #1 company in its class. Also, its earnings disappointment resulted mainly from its internet start-up costs. Freed of those now, and owning 41% of BNBN, it ought to be seen as the kind of value it is.

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