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To: Patrice Gigahurtz who wrote (7016)	12/24/1997 11:36:00 PM
From: Eric Yang	Read Replies (2) \| Respond to of 213173

Patrice, I don't think you can use either the book value or the cash/share as the 'bottom'. The book value doesn't mean much if the company is still bleeding heavily in red ink. On the other hand a company that is short of cash will have a hard time implementing business strategies needed for recovery. So I think both are important factors. The book value is just the starting point. Then you have to take into account the company's cash position, the rate of loss, probability of business recovery...etc to determine the 'bottom'. Everyone will give a different assessment and come up with different results. This is what makes the stock market so fun. Eric