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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: rich evans who wrote (3219)	4/28/2002 5:44:26 AM
From: Z Analyzer	Respond to of 3770

Glad to see there's someone on this board who isn't a mindless basher. I'm astounded that people look at an investment grade company like Tyco and see modest debt redemptions as a problem. Soooo many companies are in far worse shape. My broker was just recommending the telecom tower companies-negative cash flow and earnings, high multiples of EDITDA, heavy continuing cap ex, likely bankruptcies in the industry which will make further borrowing very difficult (plus how will they roll over existing debt when due if people are worried about Tyco)? Other industries with far less growth than Tyco and negative earnings being valued at 15 times peak earnings. This is an example of extreme negative market psycology leading to absurd valuations. It ussually ends happily if you're not too early getting in.