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

To: Paul Senior who wrote (9225)	12/9/1999 3:53:00 PM
From: James Clarke	Read Replies (2) \| Respond to of 78602

Your risk if you buy Tyco even here is that 1) The P/E is still 18 times on a trailing basis, not that anybody has any idea what they earn then or going forward; 2) We could be looking at outright accounting fraud here - no way to know that at this stage, but the SEC is going to find something. I defy anybody to look at Tyco's financials and tell me with any certainty what they earn. Yet every Wall Street analyst thinks they can forecast its growth - the company has written off every dollar it earned in the last couple years! Looks like Mr. Tice gets the last laugh here.

To: Paul Senior who wrote (9225)	12/9/1999 3:58:00 PM
From: Bob Rudd	Respond to of 78602

TYCO Took small position today - Without adequate DD - reaction to overreaction. Tice was amazed at impact of his firms comments on TYCO given that issues discussed were really pretty subtle. Faber indicated that SEC's latest was not so much about accounting as possible insider trading. I'm going to dig deeper, then either sell or buy more based on what I find out. Agree with Paul that there are some unhappy holders that will offer price resistance to substantial bounce. OTOH, if the SEC begins to look like no big deal, a return to 36 in January may be in the cards.