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Microcap & Penny Stocks : IECS- NASDAQ $0.50 stock won prestigious OIL and Gas... -- Ignore unavailable to you. Want to Upgrade?

To: Richard L. Williams who wrote (633)	9/3/1998 10:54:00 AM
From: Bobby Yellin	Respond to of 747

good morning..I am not certain.. I know technology like nvic's and possibly bion's solves those problems.. with IECS their plant supposedly is close to a residential area and there is no problem(knock on wood)..I think the design of their hogs' home eliminates those problems.. I just wonder why the north carolinians don't look into the new solutions..something is hoggy.. hope I got it straight.. looks as if the dumping is over..fahn knows what the selling was about probably since those shares were coming from that market maker..now they have a higher ask and bid :-) ps.. friend taught me this one ^-_-^

To: Richard L. Williams who wrote (633)	9/7/1998 9:25:00 AM
From: Bobby Yellin	Respond to of 747

exchange2000.com this should be bullish for IECS if their plans come to fruition and if hedge funds are right.. also read the below and if IECS also becomes successful in franchising this also could be incredibly bullish So much possible potential..if if if and more ifs Talk : Gold/Mining : Gold Price Monitor \| Previous \| Next \| Respond \| Gold Price Clubhouse \| To: Bobby Yellin (17817 ) From: Alex Monday, Sep 7 1998 1:14AM ET Reply # of 17951 Hi Bobby. Hope you find this of interest. We've all read similar info before I'm sure, but it's always good to refresh oneself every now and again................. How Warren Buffett turned $100 into tens of billions HERE are the investment principles of Warren Buffett, who turned an initial $100 into a personal fortune of tens of billions of dollars. Following them consistently could make you rich, too. Only invest in businesses you understand Buffett concentrates on learning all he can about a company he is considering investing in. He has never owned shares in a technology company because he says he wouldn't be able to understand it well enough to make an informed judgment. All investors can, over time, obtain and intensify their "circle of competence" in an industry they are professionally involved in, or in some sector of business they enjoy researching. Don't buy a share - buy a business Most investors spend far too much time watching and anticipating share price changes and far too little understanding the business they partly own. Insist on a consistent operating history. You should be assured the company has been in business long enough to show it can earn significant profits over time. A new company cannot have experienced different economic cycles and competitive forces. However, a company can have an interrupted period of profitability and still have a consistent operating history. Often this gives you a one-time opportunity to buy into a good business at a low price. Seek out businesses with favourable long-term prospects. *The best business to invest in is one with a 'franchise'* By this Buffett means a company which is providing a product or service that is needed or desired, has no close substitute, and is not either constrained or protected by official regulation. A company with such a franchise can regularly increase its prices without fear of losing market share, even when demand is flat, enabling it to earn above-average returns. Few companies have franchises. Most are "commodity businesses" without pricing power because their products are virtually indistinguishable from others, and are rarely worth investing in. "Commodity" isn't used by Buffett just in its normal sense of oil, copper or orange juice. "Today computers, automobiles, airline service, banking and insurance have become commodity-type products," he says. "Despite mammoth advertising budgets, they are unable to achieve meaningful product differentiation." "Commodity businesses" generally give poor returns and are "prime candidates for profit trouble" as they can only compete on the basis of price, slashing profit margins when demand softens. Franchise-type businesses can survive inept management; commodity-type businesses cannot. The only commodity-type company worth considering is one that is clearly the lowest-cost producer in the industry. Look for 'economic goodwill' This is the intrinsic value stemming from a company's reputation for its products and services. It enables it to continue charging premium prices and achieve above-average return on capital. Demand independent, rational and open management The "institutional imperative" impels managers to imitate, lemming-like, what other managers are doing, no matter how irrational. One measure of management competence is how well they are able to think for themselves. Watch out for how management reinvests your cash Are the projects earning at rates higher than the cost of capital, or would they do better to return the money to shareholders? Remember that most annual reports are a sham. The only worthwhile ones are those of companies where the managers admit their mistakes. Avoid companies undergoing radical change: "Severe change and exceptional returns usually don't mix" and so-called "turnaround" situations seldom turn around. It's more profitable to buy a stake in good businesses at reasonable prices than in difficult businesses at cheaper prices. The best returns are achieved by companies that have been producing the same product or service for several years. Avoid predators Be wary of companies that seek to grow through acquisition, as such growth often comes at excessively high prices. Also, a company that must integrate and manage a new business is apt to make mistakes that could be costly to shareholders. Focus on return on equity, not earnings per share As companies continually add to their capital base by retaining a portion of their previous year's earnings, growth in earnings, which automatically increases earnings per share, is really meaningless. A truer measure of annual performance, because it takes into consideration the company's ever-growing capital base, is return on equity - the ratio of operating earnings to shareholders' equity. However, this figure should be reached after making certain adjustments. Marketable securities should be valued at cost, not market value. Exclude capital gains or losses, as well as any extraordinary items that may increase or decrease operating earnings. And be wary of high debt ratios. Martin Spring is editor of Personal Finance newsletter