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Biotech / Medical : Coherent (COHR) : Anyone else holding? -- Ignore unavailable to you. Want to Upgrade?

To: Thomas J Pittman who wrote (607)	7/28/1998 3:16:00 PM
From: Doug	Respond to of 788

TJP: There are many stocks trading below book. Investors will have to put this one away for atleast 2-3 yrs if Mgmt do not find a buyer at the $15-18 level. The longer the delay the lower the price.

To: Thomas J Pittman who wrote (607)	7/28/1998 4:03:00 PM
From: appro	Respond to of 788

>>be a value stock in the Graham sense<< Someday it will be, I think. However, I have learned the hard way not to stand in front of this kind of negative momentum (COHR now $11). Market Guide does list the book value as $10.69, but that becomes an accounting curiosity when institutional investors are trying to unload a stock which is not too liquid to start with. I do not know who that is but it is my best guess based on the continuing downward trend. IMHO