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To: Paul Engel who wrote (51808)4/1/1998 12:37:00 PM
From: Thomas M.  Respond to of 186894
 
It was a high-flying oil exporation company. It was a good company, but the stock reached absurd valuations before crashing. They were expanding so rapidly, they needed constant issuance of new debt. It was no coincidence that the underwriters were writing some of the heftiest, most bullish reports I have ever seen. Look at a 5-year chart of the stock (CHK), and you'll see where reality caught up to them.

Tom


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