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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: WAH who wrote (741)	1/4/1998 3:16:00 PM
From: David S.	Respond to of 18998

I believe that the stock got knocked down due to end of year tax loss selling. The book value is $6 per share, and that is tangible, with no goodwill. Statistically, it's still cheap. As most of their sales are in Australia, some people probably got scared out of the stock because Australia's major trading partners are the far eastern countries who are in deep doodoo.Also, the Aussie currency has been weak, lately. Remember, much of the Aussie economy is based on natural resources, and if we are in a deflationary world, natural resource prices could continue to be weak. What's all that mean for a company selling barbeques and sauces and accessories? nutin', honey! Unless the world ends, (which it will someday), the stock will likely be 50-100% higher in a year, with next to nothing on the downside. And if I'm wrong, then blame it on the heat death of the universe (entropy, etc.) Hey, it'll be pretty hard to barbeque when the entire universe's temperature is absolute zero.