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Non-Tech : Conseco Insurance (CNO) -- Ignore unavailable to you. Want to Upgrade?

To: Pancho Villa who wrote (497)	12/11/1997 9:37:00 AM
From: dfloydr	Read Replies (2) \| Respond to of 4155

Hi Pancho: My dribble down stock is TFS (Three-Five Systems). They make the flat panel screens you see in cell phones etc. About eighteen months ago they suffered a set back that would have cratered the average management: Motorola which accounted for some 80% of their business, cut them to near nothing. Instead they have come booming back, have a couple of altogether new technologies for the display industry. The stock recovered nicely as the basic business was reestablished, but has sat kerplunk since and done nothing but dribble down. Meanwhile they are pusing forward with their new technologies. The company is very tight lipped about what they are doing and I respect that in the high tech field. Meanwhile a couple of blowhard companies have been garnering all the attention. See the following contributed by another member: To: +Jim Armstrong (653 ) From: +raefon Tuesday, Dec 9 1997 11:12PM EST Reply # of 662 hello Jim, I just finished reviewing kopn and panl. The combined market capitalization of these two companies is $278.15mm. Panl has ZERO revenues since inception. Kopn has $11.5mm in revenues year-to-date, $18mm in revenues last year and has a tremendous accumulation of losses. Kopn has never made money, and in fact may never...Panl may not only not ever make money, but heck they may not ever even have...REVENUE (<G>). TFS had REVENUE of $24.1mm IN THE LAST QUARTER, and earned $.19...but has a valuation of a paltry (by comparison anyway)$148mm. TFS has the technology agreements, a blue chip clientele list(what company wouldn't covet H.P. and Motorola)and a track record over the last several years of significant growth, '96 hiccup aside.. so what gives? Why do these far more speculative companies get the capitalizations that they do? The analyst at Furman who was written up (Robert Cihra, I apologize for buthchering his name) in the Panl discussion, has THREE FIVE on his firms recommended list and this guy is pretty bright. I guess Jim I don't understand why the market is capitalizing panl and kopn at such ridiculous valuations and TFS and so inadequately. Noblesse I would appreciate any insight you might be able to supply to these questions. Have a great night.