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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: jeffbas who wrote (7852)	7/25/1999 5:42:00 PM
From: Wallace Rivers	Respond to of 78843

Geez, Jeffrey, calm down - you might want to lose the caps!! I'm taking a calculated gamble on this stock, and it's not the first time I've done that. This is small cap speculation pure and simple. I bought the stock fully aware that the JNY business was history, that sales and earnings would be significantly down. I also bought a company with over $5 per share in cash and no debt selling at $9 down from $23 a little over a year ago, thus valuing what's left at about 4 bucks/share, or 35 million and change. Remaining sales are I figure between 12 and 13 bucks/share. I've mentioned the buyback possibility, there is also the possibility of the company acquiring other brands to make up for the JNY sales. Who knows, Dockers may be a huge hit. I don't think I've got a Chap. 11 on my hands here, and the risk/reward is appealing to me with the cash cushion.

To: jeffbas who wrote (7852)	7/25/1999 7:17:00 PM
From: Paul Senior	Respond to of 78843

My take is that MAXS is in the business of designing, developing, marketing. The management team is experienced in dealing with women's shoes. To me, the lost business is of similar consequence to sales lost because of changing fashion trends. So I think the management team should be able to recover from the diminution in business. Especially as they've got a lot of cash -- enough to overcome any dry spell. Of course, MAXS is speculative, but with the odds in one's favor -- that's my opinion anyway. But one only ought to purchase this stock within a well-diversified portfolio. Paul (long MAXS)