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Non-Tech : Owens Corning(OWC)Safest Buy On Wall Street? -- Ignore unavailable to you. Want to Upgrade?

To: Leo Francis who wrote (49)	12/9/1997 9:27:00 PM
From: Brendan W	Read Replies (1) \| Respond to of 62

You're probably right about the book value ... it just recently turned positive. The PE you mention includes a non-cash amortization charge for emerging from bankruptcy. Without the non-cash charge the PE is comparable to OWC. The fundamentals are obscured ... they are becoming less so and the price is showing that. They have had great sales and earnings and have paid down a ton of debt. The amortization charges end this Q or next and all of a sudden the PE will look great. You wrote: >>>>>> Brendan, USG trades at 31 times book? Is this right? Seems too high. PE is also about 24, versus OWC's PE of 8. Good Trading, LF