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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: J.Y. Wang who wrote (4691)	11/5/1999 6:01:00 PM
From: Bill Wexler	Read Replies (1) \| Respond to of 10293

The P/E is not relevant at this point. Value investors see DIS as an asset play trading at a huge discount. I continue to accumulate the stock (with a long term, multi year outlook) because I am counting on the fact that Disney's media properties, film libraries, theme parks, brand name, etc will continue to increase in value. eventually, either present management will improve the earnings stream or new management will take their place. In the meantime, I remain confident that the company will not go out of business. The stock is at a good price. It may drift down a bit more but i doubt it will get significantly cheaper without a general market break. The bad news has been out for a while and the outlook for the next year or so is well understood.