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

To: Bill Wexler who wrote (1228)	6/26/1998 8:00:00 AM
From: valueminded	Read Replies (3) \| Respond to of 4634

Bill Appreciate your commentary on these threads, I especially enjoy that on TAVA, one I am considering shorting myself. Couple of comments: Many companies take on debt load to "buy back their stock" in the short run, it may look good, in the long run, I suspect it means overleveraged companies with similar debt problems to the "korean choebels" . . . . but you know, we will bail them out with taxpayer dollars if they go to far . On TAVA, how do you find the "floorless convertible", I checked and was unable to find record of it. Could you point me to a reference. thanks

To: Bill Wexler who wrote (1228)	6/26/1998 11:33:00 PM
From: Bill Wexler	Read Replies (1) \| Respond to of 4634

Briggs & Stratton (BGG) sputters BGG's stock price is fading in spite of a rising market. I believe that investors are slowly lightening up going into the soon-to-be-released earnings report. I have zero doubt BGG will miss its numbers, the only question is by how much. Furthermore, I beleive that the balance sheet deterioration will continue (escalating debt), margins will be under even greater pressure, and EPS estimates will probably be revised downwards. I have a near-term target of 29-30 a share. If BGG really screws it up and management sounds a bit pessimistic about next Q, watch for the stock to go to 25. Closed to day at 37 down 13/16.