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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Robert Hoefer who wrote (3953)	4/29/1998 7:57:00 PM
From: Freedom Fighter	Respond to of 78465

Perils of the Dollar Standard Value Investor Workshop Update Work on the the May Market View is currently in progress. It will be released shortly. In the mean time, I have reproduced and article written by Jeffrey H. Herbener entitled "Perils of the Dollar Standard". It is available with special permission from the Ludwig von Mises Institute and the publisher of "The Free Market". I am making it available because it covers many of the root causes of the Asian crisis, the risks in the current international monetary system, and the possibly temporary nature of the boom in the U.S. at present. I have alluded to all of these in my own writings. This article expresses my thoughts in a way that I could not. I hope you will take the time to read it. It can be reached from the Article Section which is located in the left hand frame. Enjoy, Wayne Crimi Value Investor Workshop members.aol.com

To: Robert Hoefer who wrote (3953)	5/1/1998 11:33:00 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78465

Robert H.: Thanks, I'll look at RN. It's scary -g-. Still more bad news on OLS (S&P Watch Negative). But I still see value: Just roughly, there are 80M shares of OLS out. If OLS were to sell at the same psr as Manpower (I don't know why MP or why psr, I just happened to think of MP for a comp. in this way.) OLS would have sales in this or related business I think at 600 M this quarter (per recent OLS report) x 4 quarters or $2.4 billion. Manpower PSR about .5 (.47 per Yahoo) which suggests that without all the troublesome healthcare stuff: (.5 x 2.4B)/80M or $15 dollars per share. That is, if OLS were priced in this way like MP, OLS would sell for $15. The troublesome stuff has quarterly sales declining from 493 to 408M (That's some trouble!! -g-). But that trouble IS a $billion plus business (for now anyway-g-). Not sure what a money-losing billion dollar business is worth. How about $160M with the buyer putting up just 80M cash? That'd still be another $2/sh to OLS. So in this way, I still think OLS is a 15+2= $17 stock. That'd be very conservative, I hope -g-. JMO, and I've been wrong many, many times before. Not only on stocks, but on these goofy comparisons -g-. Paul.