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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Shelia Jones who wrote (1149)	6/23/1998 8:01:00 PM
From: Bill Wexler	Read Replies (1) \| Respond to of 4634

I agree that the income statement looks pathetic, but they already state in their 10-Q that construction revenues will continue to dwindle. They then go on to say that they expect the majority of their revenue stream to come from acquisitions of new towers. Investors in the cellular/PCS business are like investors in Yahoo and Amazon - they don't care about earnings (since they are minuscule or simply don't exist) - they are investing in the FUTURE...and boy is it expensive! I am also concerned about the small float. From a valuation standpoint - it may be a good short, but it looks a bit dangerous right now.