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

To: clochard who wrote (5559)	3/26/1998 9:32:00 AM
From: Franco Battista	Read Replies (2) \| Respond to of 18691

Pancho and all BFIT fans,my broker faxed me a newsletter by John Dessauer yesterday. This man explains why we should not worry about valuations ("The right answer to the high P/E ratio is to realize that no figure should ever be looked at in isolation. Albert Einstein was right. All things are relative."), that the Asian problems are overblown ("The bottom line is that there is good reason to be optimistic about the future for the economies of Southeast Asia." However he later adds:" But I am still not willing to risk buying stocks in Indonesia, Thailand or Malaysia."), and that we should hold on to his picks- one of which is BFIT. He says that he knows the CEO of BFIT, Lee Hillman, from the days before the company was spun off from Bally Entertainment. Hillman supposedly redressed the " the company's balance sheet was loaded with too much debt, and the business plans were underdeveloped". Their vision is to create a franchise much like MacDonald's. This man Dessauer bought the stock last year at $6. and says he will keep holding because " Lee Hillman has only just begun".He then adds that he will buy on any dips (around $20-22.) but that this is unlikely to happen. This story sounds a lot like AOL and if they can convince the investors that they have a winner, we may see the same results. Fundamentals for these type of companies are non-existant and momentum is the thing to look for. Perception and smoke screens is everything in this market at this time. Hope this helps.