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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (20971)	2/22/2000 2:36:00 PM
From: Joe Lyddon	Read Replies (1) \| Respond to of 57584

Rande: I picked up some WM (Washington Mutual) last week for 22/sh. I figured it had more upside than downside probability. Your thoughts? Thank you, Joe

To: Rande Is who wrote (20971)	2/22/2000 3:11:00 PM
From: Bob	Read Replies (1) \| Respond to of 57584

Check out this post on YAHOO just a month ago on IPI messages.yahoo.com Does anyone get this silly stock? by: BillyBudd_Sailor 1/10/00 9:49 pm Msg: 425 of 463 How can it be trading at a valuation that implies a 60% (!) discount to it's holdings of EXNT alone? IPI owns 5 shares of EXNT for every share of IPI outstanding. EXNT closed today at 35; 5 shares are worth $175, compared to IPI's closing price today of $69 1/2. That makes no sense. Where, oh where is market efficiency when you need it? Can anyone explain what is going on? Where are the buyers? This stock is a SCREAMING buy for the arbitrage play. Anyone know of management's plans (or lack thereof) to realize this value potential?