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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (3564)	11/23/2000 12:24:26 AM
From: Paul Kern	Respond to of 19633

I left limit orders this morning and when I got home today and found the following had covered. CCK @ 4 7/8 ELNK @ 7 1/32 HLTH @ 8 1/32 Happy Thanksgiving and good trading to all. Paul

To: Tom Hua who wrote (3564)	11/23/2000 9:27:59 AM
From: KaiserSosze	Read Replies (1) \| Respond to of 19633

Hi Tom, Happy Thanksgiving to you and yours. A quick question for you; on ICGE (in Yahoo), I notice that they list a book value of $9.98, do you know how that is computed?? Thanks in advance. Kaiser

To: Tom Hua who wrote (3564)	11/23/2000 10:00:00 AM
From: KaiserSosze	Read Replies (1) \| Respond to of 19633

An interesting take on ICGE from the Fool board (written on Nov. 16th): <<I particularly liked the point that Vertical Net is worth about $750M so the whole stable has the potential to be worth more than ICGE's market cap. Does anyone have an estimate of ICGE's chunk for any of the other members of the ICGE stable? Yes, and here's the ugly truth:(From ICGE's website) STOCK % owned Today's price Shares outs. BWAY 33 3.5 46M EMRG 22 9.25 34.3M ONVI 21 2.10 80.7M USIT ? (est 25) .60 26M UAXS 23 13.62 90M VERT 40 19.37 87.5M Cash = 513 Million Do your multiplication. Value of above = 1.618Billion Divide by ICGE's 280M shares outstanding. Value of ICGE stock: $5.77 Even worse, I'm afraid your hopeful statement that they may have a stable of companies worth as much as VERT is, as of the moment, untrue. Why? The capital markets are CLOSED. TIGHT. The value of their stable is exactly ZERO. In fact, they're value is negative because they are drawing down ICGE's cash reserve. The companies currently public are mostly trading in single digits. Nobody's interested in these companies and they're value may very well continue to erode. VERT is NOT worth $750 million if you do the math. The bottom line is this investment is in big trouble, in my opinion. THis makes me sad. Why? I was stupid enough to buy in at $147/share. My only hope is for the stock to recover enough so I can short it. Matt