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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: paul e thomas who wrote (8683)	1/3/1998 4:15:00 PM
From: Robert F. Newton	Respond to of 13949

Paul: Re: ANLY Check this site out............. suretrade.stkwtch.com

To: paul e thomas who wrote (8683)	1/3/1998 4:21:00 PM
From: Robert F. Newton	Read Replies (1) \| Respond to of 13949

Here's some info from same site on IMRS, ACLY, & TPRO suretrade.stkwtch.com suretrade.stkwtch.com suretrade.stkwtch.com

To: paul e thomas who wrote (8683)	1/3/1998 4:27:00 PM
From: Robert F. Newton	Read Replies (1) \| Respond to of 13949

Off Topic - Paul: I noticed from your profile that you were employed at Dupont. Do you still hold a position in Dupont? What are your thoughts for their future?

To: paul e thomas who wrote (8683)	1/4/1998 8:59:00 PM
From: paul e thomas	Read Replies (2) \| Respond to of 13949

Y2K VALUATION PERSPECTIVE I am in the middle of a detailled valuation analysis of IMRS aimed at defining a target price when I plan to begin to finally get out of the rather large position I have in IMRS. To aid me I have partially updated a valuation study made by Raymond James on August 26th when They established a target price of 38$ when IMRS was at 28.25$. I have compared the valuation of IMRS with a peer group of 7 other Y2K service providers(ANLY,CBSL,CHRZ,CBR,KEA,MAST,TSK) and 14 other peers listed by Raymond James. This list includes Cambridge Technology Partners,Sapient Corporation,Computer Management Sciences Data processing Resources just to name a few.I would like to make a few observations bout Y2K as a group versus the non Y2K stocks.Both groups have the same average % earnings growth forecast for 1998 versus 1997 and also the 3-5 longer term EPS growth rate.Out of every 10 analyst ratings on average 9 give a strong buy for Y2K while 8 give a strong buy for the peer group.Despite these similarities the average 1998 PE of the Y2K group is significantly higher at 36 versus 27 for the non-Y2K.In the last week 50% of the Y2K stocks significantly outperformed the Russell 3000 whereas less than 20% of the non Y2K peers. What does all of this mean? To me it means the premium valuations being accorded Y2K are being justified on subjective grounds.In the case of IMRS which Raymond James identified as receiving a premium valution when the price was 28 1/4 the premium valuation was justified on the basis of exceptional business opportunities and and Operational fundamentals".