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

To: Philippe Thibault who wrote (4203)	3/5/1998 7:41:00 PM
From: Ploni	Read Replies (1) \| Respond to of 18691

Subject: LAMR I saw the CNBC article that mentioned Clear Channel taking over the More Group, and they also mentioned that LAMR was up yesterday, but sold off today. (Actually, it looked as though LAMR was up sharply this a.m., but sold off when it turned out they weren't the ones being bought.) CNBC speculated that perhaps the news of a pending takeover had leaked, and LAMR had moved up in anticipation of that. [They seemed to be unaware of the fact that one of the guys following LAMR had mentioned that the runup was due to rumors of a takeover by CCU, and said that the two management teams had gone off for a nice romantic weekend together, etc.] A short might think that as LAMR turned out to be the maid-of-honor, rather than the bride, that it's due for a sell-off. However, the long view (cited on CNBC) suggested that this acquisition could signal continued acquisitions in this industry. So LAMR might continue to go up, until it's either bought by some insane manager with more money than sense (the company truly is obscenely overvalued in terms of earnings and debt), or until the analysts who seem to control the sheepish longs issue downgrades. P.S. I noticed that Lamar's website, lamaroutdoor.com , is down. I don't know how long it's been like that.