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

To: Jyoti sharma who wrote (582)	5/12/1998 7:47:00 PM
From: robert emann	Respond to of 3627

Jyoti: Dessauer made the following points in his recommendation: 1. Silverman is a tough, no-nonsense manager who owns a large block of stock. 2. CD can sell a large variety of product to a huge customer base-66.5 million customers. 3. Wall Street powerhouses (Morgan Stanley, Merrill, etc.) pushed the stock to $40+ 4. Cendant's financial staff uncovered the accounting irregularity. Silverman moved quickly to fire the responsible parties. He also called in their auditors and they are investigating Their review should be completed in a couple of months. 5. Wall Street over-reacted assuming the worst; that there was a major fraud being carried out, and that the auditors will come back with significantly higher damages. 6. Dessauer feels Silverman's estimate of an $.11-.13 haircut on 97 earnings may be on the high side. . He feels this is a case of confidence in management and that patience will be well rewarded. He looks for a double in 12 months. I have done well with his recommendations and made a start up investment today. Robert