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Non-Tech : Callaway Golf -- it's a buy -- Ignore unavailable to you. Want to Upgrade?

To: Mark T. Heath who wrote (202)	9/22/1998 12:10:00 AM
From: miklosh	Read Replies (1) \| Respond to of 307

To Thread, I was just in the neighborhood and noticed that ELY is at a 5 year low ps (1.02) and pb(1.64) and more importantly there has been recent insider buying biz.yahoo.com . I am aware that they have been loosing mkt share but my thoughts are that this sleeper could be ready to pop. Could someone give their thoughts on the fair value of this company and ELY's short and long term prospects? How's the quality of management? Have they been honest and competent? How reliable is ely's accounting practices and growth and earnings projections? thanks in advance

To: Mark T. Heath who wrote (202)	10/6/1998 8:26:00 PM
From: reefkeeper	Read Replies (1) \| Respond to of 307

Callaway is starting to look attractive at these levels. Does anyone know what % of their business is based in North America? The Steelhead woods are selling well (I checked with 6 different pro shops), and the reviews appear strong. One of my golfing buddies (ok not an entirely credible source) rented the woods and irons, and found those to be the most playable clubs he has tried. He rented the "regular" Callaways the day before, and did not care for them at all. He plays with Taylor Mades and is now in the market for a full set of steelheads. These clubs are much more affordable then in the past, so they may do well even though we seem to be headed for a recession in the US (were already there everywhere else). I've been real selective of late, only picking up PDG for a quick 38% return. ELY is very tempting at these levels though...