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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TGPTNDR who wrote (148860)	7/26/2002 1:30:43 PM
From: tejek	Respond to of 1574864

.While we are less worried than other investors about the conventional concerns over Tyco we recognize there is a real risk in the cockroach theory --where a few roaches are visible, many more are likely. Tyco's stock us so cheap, however, that no ordinary cockroach will do. Only a giant mutant cockroach-sized problem can justify its current modest stock price. No such creature is visible as we write this letter; one may become visible as you read it. Based on present facts, however, we believe Tyco's share price pays an investor very well to take the risk that the future will mutate his fears into facts...". TGP, some would suggest that the mutant roach is already out there. Last quarter, TYC had $6 billion in cash....now $10 billion [after the CIT IPO]. In the meantime, it has short term debt of $20 billion, and long term debt of $40 billion. Talk about being over extended......TYC brings a whole new meaning to the term. Having said that, I covered my paper short this AM after I heard they had hired a new CEO. Nonetheless, I am seriously considering shorting them again after this latest bit of news plays itself out. ted