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

To: VALUESPEC who wrote (1176)	7/21/1998 3:21:00 PM
From: Frank	Read Replies (3) \| Respond to of 3627

VALUESPEC, If you took it as an insult, I apologize. Its just that I crave information, not hyperbole. You once provided a transcription of a conference call. This was valuable. Since then you've given points on price without reasoning or justification. Your venting opinions, but without substance; its superficial and doesn't allow for followup and verification. One person quoted a book value under $4 (Not you), but did not know how to calulate it. You've made pronouncements about cash flow, but what adjustments are you making to determine your figures given the accounting contentions. You were hoping and praying that the stock wouldn't go to 12? What was so magical about 12? Book value is roughly between 5 and 6, is it because your model of the business suggested that stock price should be supported at a minimum of 2X book. You mention AOL and YHOO, and while they've performed well, they are pure speculative plays without any support in fundamentals. To pick YHOO is to be lucky, not intelligent. Luck can change; analysis makes money over the long haul and provides real wealth. Many people made a lot of money on Tulips once. On the other hand you mention DELL and LU, both sound companies, with real products, real performance, and sound business models. These companies indicate you might be doing something right. If all this sounds like baiting, it is: "I'm sure you have real insight, just share it!" Finally, maybe I'm just fed up with opinions supported by speculative fancy. Its one of the reasons I've given up watching CNBC.