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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: Neal davidson who wrote (511)	5/6/1998 10:43:00 PM
From: VALUESPEC	Read Replies (2) \| Respond to of 3627

Neal, I sold because I was concerned about the market and the erosion of some substantial profits that I had. However, after I sold, I felt uncomfortable with what I had done and decided to buy back (I also listened to the conference call again to make sure I was going to do the right thing). This market could be due for a correction. On top of that, I'm not sure how much support the market will give CD until the audit is complete. However, this is one of the best large cap stocks out there right now, so I decided I was premature in selling. I guess I'll know if I made the right decision by tomorrow. I also thought that maybe a lot of people were behaving just like me and selling the stock to lock in profits. The more I thought about it the more I began to think $ 24.00 could be sustained, especially if the sellers start to dry up again. We'll see. VALUESPEC valuespec.com

To: Neal davidson who wrote (511)	5/6/1998 11:47:00 PM
From: Wowzer	Read Replies (4) \| Respond to of 3627

It might be odd, but at least it is refreshingly honest. Most people would never admit that they sold in a panic only to buy back a couple of hours later for a little higher price. He stated his reasons why he bought back and could very well be right. Anyone who actually buys and sells based on solely on a poster opinion is the "odd" one in my mind. I sold today solely on the fact that the audit was pushed back. Just didn't sit right with me. Yes I have a jaded view of audit. The big six firms use college grads who go in knowing next to nothing about the company's business. They start off talking to the CFO who usually has 20 plus year experience and talk circles around these kids er um auditors. The auditors usually find some rinky dink findings and move on, barely having a clue what they were looking for. But when all hell breaks lose like what happened with CD that's when they send in individuals who might actually know what they are doing. These auditors go after every skeleton they can find and don't believe a word the CFO is saying. Remember the accounting firm has egg is all over the face since they signed off on the 1997 financials. They are now out for blood. So when the audit was extended, it led me believe they may have found some additional skeletons. Not trying to convince anybody to sell, just stating my reasons why I sold. Rory