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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (17896)	10/16/2003 9:52:26 PM
From: Spekulatius	Respond to of 78748

DO quarterly earnings don't sound very good. I have excited my position a while ago after a short trade. More so than the dividend cut, i don't like the fact that they reduced their depreciation rate, as their conservative accounting was one of the reasons I liked them in the first place: Message 17959432 In my analysis of the oilservice group, i was very wrong in my assesment that the deep water drillers will do better in the future than the land drillers. I assume that the high NG prices keep the land based drill rigs running while the deepwater exploration is lagging, despite fairly robust oil prices. I don't see much sense jumping into this group right now as I see that my favorite E&P APC is trading at 8x earnings.

To: Paul Senior who wrote (17896)	10/17/2003 9:51:46 AM
From: Spekulatius	Read Replies (3) \| Respond to of 78748

I bought some MEDI at 28.12$ this AM The stock has been under pressure for a while and now we know why: WalMart defers national vaccination program using MEDI's Flumist, so estimates for the Flumist launch have to come down. Here is the rationale for my play: MEDI's market cap: 7B$ -1.5B$ net cash = 5.3B$ enterprise value 1 B$ revenue for 2003 (even with delayed Flumist launch) Earnings around 1$/share for 2004 (at least). MEDI is not super cheap but P/S in the range of big pharma companies and has much stronger growth ahead, IMO. Even with the delay, Flumist is in a huge potential market and the only approved "needle free" flu vaccine and has a large potential. it's a quality biotech trading at a very reasonable price.

To: Paul Senior who wrote (17896)	10/17/2003 5:36:32 PM
From: Madharry	Respond to of 78748

I purchased more shares of korea telecom after they announced a share buyback, noting that their shares have failed to apreciate along with the rest of the korean market. I also repurchased some shares in CPN calpine.