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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: DLS who wrote (1183)	1/22/1998 10:51:00 AM
From: put2rich	Respond to of 18691

WDRY : Apartment laundry My perception is that machines in low to low middle class apartments will be damaged/vandalized soon. Hi middle class apartments have individual washer/dryer or a well maintained washroom. In brief, a low margin of profit for WDRY.

To: DLS who wrote (1183)	1/22/1998 11:41:00 AM
From: Brad Davies	Respond to of 18691

DLS, I agree, if you were to value a company like this it would be comparable to junk bond. As long as there cash flow remains stable, though, their return/cash flow will be good. It is not that easy to break laundry room contract lease. Most of the time they are registered on title, and must be assumed by purchasers of the property. It depends on the specifics of each agreement. Presumably, WDRY would be sophisticated enough to review these leases in the course of their DD on these companies, or else has some provision for adjustment to the purchase price for cancelled contracts. This is a simple and real business. It is not a scam or BS technology deal. There are far better shorts out there. Just my opinion. Regards, Ron