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To: GraceZ who wrote (218840)	2/4/2003 11:34:19 PM
From: Bid Buster	Read Replies (2) \| Respond to of 436258

>>So what will they make in 2003? At what rate is their growth slowing and what kind of cash flow do you expect in 2003?<< Grace, you should know that those kinds of forecasts are shooting from the hip..a company can loose a contract or a customer in a heartbeat..and this whole guidance bs is... just bs. you can learn more from a company by camping out in their parking lot.

To: GraceZ who wrote (218840)	2/4/2003 11:46:24 PM
From: Israel	Read Replies (1) \| Respond to of 436258

ya still dont get it do you?? Anyone can look at quarterly report and get any or all of the information you are looking for.. Plug it into a little Excel work sheet, throw some random growth % into the mix and come up with a projection... Which means absolutely NOTHING! If you chose to waste your time in this manner, perhaps I'd be a good idea to look for a job on the street, and rate EXPE a super-duper strong buy based on your 'projections'.. my argument was that i was short EXPE based on three factors: Message 18219017 1)Earnings cannot continue to accelerate at the current rate. (for one, based on weakening economic and industry conditions) 2)Barriers to entry to this business are not unlimited and therefore much like any growth sector, it will experience heavy competition in the near future. Namely orbitz.com 3)The stock trading at 9 times sales and 33 times next years projected earnings (minus charges of course, if one were to factor out charges the PE would jump to over 100), is priced for perfection. This is nothing but a travel agency with a $4.5 billion dollar market cap. so far, announcements by companies in the same space as EXPE, (ROOM and Sabre Holding to name a few) have proved me right, regardless of whatever excel worksheets projections me, you or anyone else can come up with, this stock is still a pig.. Israel