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Gold/Mining/Energy : CPN: Calpine Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Clement who wrote (201)	12/14/2001 4:44:55 PM
From: The Ox	Read Replies (1) \| Respond to of 555

The risk is not solvency, the risk at hand is the pace of growth. Then it becomes a question of valuation. Is Calpine worth this without the growth? I followed your link from HTP. One of the reasons ENE imploded was that the equity market lost faith in the company. Once this faith was lost, their value spiraled down so quickly to unexpected depths. The momentum built, confidence was shattered and we have seen the result. My concern being long CPN at this stage is the potential for a similar set of circumstances where the equity markets lose faith and continue to withdraw their investment dollars from a sinking ship. I would appreciate your thoughts on this issue. I will back track the thread this weekend and see what else has been posted here. TIA, Michael