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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: DavidD who wrote (2163)	8/25/1998 12:18:00 AM
From: Mr. Pink	Respond to of 18998

Apologies for not discussing sooner. Definitely not just momentum. Company has serious problems and could have to restate earnings as second rate accounting firm Grant Thornton (who the hell are they) may not be playing kosher with the books. Specifically, company enters into what amounts to essentially as REPO agreements yet books earnings. Also, cash generation is poor. Finally, management lying and manipulating on conference call convinced Mr. pink that company has a lot further to fall, possibly to book value. Remember mr. Pink's Triple Turd recommendation on SIR at 32. This company is caught from the same cloth. Mr. Pink