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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (84562)	10/24/2000 12:58:24 PM
From: re3	Read Replies (2) \| Respond to of 132070

ouch, that one (FMO) is really down again ! ps trying to buy lgnd just now at 15 3/8

To: Knighty Tin who wrote (84562)	10/25/2000 7:55:09 AM
From: valueminded	Read Replies (1) \| Respond to of 132070

Mike: I have looked and looked at FMO and by my reckoning, it is not an investment, just a risky speculative bet that they will be able to survive the mountain of debt in a downward facing economy. When I add up debt and market cap I find FMO more expensive than GPC on just about every metric. Am I missing something here or are you just betting that they wont collapse under the debt load. Additionally, looking at their balance sheet, their assets are mostly intangibles, ie I come up with a negative book value. Wondering what I am missing ????? On a different subject, I too noticed that ASA has substantial investments in diamonds and platinum group. Unfortunately already have about 2/3 position, (underwater of course) but it is near the point of adding more. On the "dark side" what do you think about puts on some of the contract mfgs. Sanm, CLS and possibly jbil are coming to mind. It certainly seems like if the end markets are swelling, that they are going to be due for a revenue slowdown (or writeoff) if they keep building inventory?? Any thoughts on timing ??? thanks