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

To: Madharry who wrote (7924)	7/31/1999 11:31:00 PM
From: James Clarke	Respond to of 78799

I recall that one of the home health care companies I was looking at - probably either Genesis or Novacare, rolled over its long term debt into short term debt. Can't remember which. Also recall that neither of these had a penny of tangible net worth, even though it appears they are trading at half of book value. All the book value is goodwill that is arguably worthless. I would be REAL careful buying either of these unless you are willing to take downside risk of zero. If you want to play the industry, HCR has less leverage on the upside, but it has a sensible balance sheet.