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

To: rjm2 who wrote (11172)	9/18/2000 11:54:01 PM
From: jeffbas	Read Replies (2) \| Respond to of 78639

On EBSC, the market is saying that the price will be better than $4.50. In my opinion, if the 13D holders do not tender it almost certainly will be better - "micromayvin" on Yahoo, one of them, says they will not. Another reason that I think it will be more than the minimum is my hunch that the typical kind of buyer in EBSC does not want to take a loss. There just has not been that much stock traded under $5 and change.

To: rjm2 who wrote (11172)	9/21/2000 1:35:09 PM
From: Allen Furlan	Respond to of 78639

Re, ebsc. Have not yet received proxy, but quick reading on edgar filing indicates that an acceptance of cut off price is available(equivilent to offering at 4.5). IMHO all shares required by the tender will be offered and the price will not exceed 5. Since Mr. Market has such disdain for department stores I would expect stock to drop somewhat from that price, therefore anyone buying now may not get any appreciation of their purchase price versus a weighted post tender value. However I plan to buy more shares after the tender because the recent events on this stock are bullish in the long term. Re, fnv. This company mentioned recently. I increased my position by adding a covered call position at 6 1/8 net of the October 7 1/2 calls sold against the stock. Also note this stock has takeover rumors and a buy out is not illogical. If this occurs and a cash offer is made, selling covered leaps is a great strategy since the long term options collapse under such a merger.