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To: Think4Yourself who wrote (59714)2/4/2000 10:17:00 AM
From: Brent Hogenson  Respond to of 95453
 
<<Don't you WANT highly leveraged companies when prices are rising or high?>>

To some extent. More importantly though, I want to own the stocks that the mutual funds want to own. The difference is the multiple given to cash flow (6 * cash flow as opposed to 2 to 3 i.e. APA, DVN) Highly leveraged, relatively low market cap (under 500 million), questionable management decisions, and in a cyclical industry would not fit the bill for most fund managers. I will wait for the CC before making any final decision (as I see we're up so far), but I have an itchy trigger finger.

FWIW - XTO Conference Call 12:00 Central time # 719-457-2645 Password #896449