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To: Selfop who wrote (4766)7/17/1998 8:38:00 AM
From: Thomas George Warner  Read Replies (2) | Respond to of 8879
 
Well and of course you can't read either.

To: +david oliva (1103 )
From: +T. G. W. Thursday, Jul 16 1998 11:28PM ET
Reply # of 1109

Wow! I have read some of the best posts here that I have ever seen on SI. Nice to see professional,informed, courteous, to the point discussions of Cendant.

I have been a shareholder since the HFS days, sold and just got back into the stock on 4/28/98 thinking that it was an opportunity that I could not pass up. I now see the present problems as a further opportunity to buy a company with outstanding market presence, fantastic earnings growth potential and excellent management in Henry Silverman(yes I firmly think he will control the company by the end of this month). I have been buying all of the way down, and am prepared ot buy lots more, even though I am down 40% on some of the blocks. In 6 months all of this will be forgotten.

David is right, cash flow is king! The funds will avoid it like the plague short term, overselling on hysterical news. But longer term they will be lured back like a bug to a light. Most of the funds and institutions are only concerned with the window dressing and short term numbers. We have an advantage in that we do not need to satisfy anyone but ourselves.

Lastly Forbes will be gone within the month. The board simply will not be able to take the pressure.