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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: Clay Takaya who wrote (634)	11/11/1999 4:01:00 PM
From: Brian Malloy	Read Replies (1) \| Respond to of 3770

I hope Tice is still holding his short positions as TYC is on the move to the upside now. Good news will be comming out of the analyst conference. Regards,

To: Clay Takaya who wrote (634)	11/11/1999 6:14:00 PM
From: Chuzzlewit	Respond to of 3770

Clay, you asked: Anyway, my question is: Why can't TYC view its repurchase as an investment just the way you and I would? I used to own CY and they use a computer program to trade their own stock. I assume that TYC would be free to do the same. They can buy the stock at a low price and then sell it high. The certainly could (and that is the nub of buying the stock when the management feels it is undervalued), but actively trading in the stock would raise an ethical question in my mind. There is no more an insider than the company itself, and trading stock would pit the company against its shareholders. I would not own shares of a company that routinely traded its own stock. Besides which, the capital structure decision is one that should not to be taken lightly, and diddling with the capital structure for short-term gains is a recipe for disaster. Good luck with your purchase. TTFN, CTC