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Non-Tech : TJT Inc. (AXLE) - Undervalued Special Situation -- Ignore unavailable to you. Want to Upgrade?

To: JOHN E.DAGGS who wrote (48)	1/2/1998 8:35:00 AM
From: Walter Fabisiak	Respond to of 192

Ed: I am guessing that there were a number of former Toluca Pacific clients that waited until the end of the year to decide to sell their AXLE and AXLEW positions for tax losses. I checked AXLE's 10-K and the book value is now about $1.75 so the stock is now trading below its book value. As far as the earnings go, keep in mind that it takes time to fully integrate an acquisition and you don't see the full benefits for a year or two. Walt