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

To: Mikhail Rasolis who wrote (1643)	1/27/1998 12:46:00 AM
From: Eric Klein	Respond to of 18691

CCU is unbelievably priced on fundamentals. 10 times sales, p/e=120. My only concern is that I can't understand how it got so high in the first place. They've had very fast growth, but all through acquisitions. The book value per share has not gone up. The sales per share has not gone up. The earnings per share has not gone up. They just keep issuing more shares! It's 3 point drop today was interesting. I'm gonna wait to see what tomorrow brings. When this baby finally falls, it'll keep falling for a while.