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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: JEB who wrote (604)	11/1/1998 8:31:00 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 19428

BT block trade is quite impressive,... SBC Warburg traded the 129k for 62,5 up some $2 3/8. But not if you consider that SBC had enuff time to gather the pieces around 62 and 62,25 in the open market just in front of the trade. Just see the intraday chart for BT between 10.00 and 12.00 on Friday on DTN. If fact the price was not extraordinarily affected by the block. Note that BT has a daily turnover of a 1,3 M shares, so 200k should be easy to be unloaded within days or hours if the agent is cautious. There might be some phantasy in BT but the financial sector provides better opps to short or daytrade. C.

To: JEB who wrote (604)	11/1/1998 10:41:00 AM
From: Pravda	Read Replies (2) \| Respond to of 19428

BT makes a very poor short. Bankers Trust's book value is around $47 a share, so the company is trading at about 1.3 times book value. JPM trades at 1.5 times book, and CMB trades at 2.26 times book. This is why the take over rumors have such creditability: Bankers Trust is trading at a significant discount to its peer group. Bankers Trust was a great short back when it was at $120. Why short the stock now that it's already lost half of it's value? Even with the disastrous third quarter, Bankers Trust has made money for the first three quarters of this year. It's only profitless companies that go out of business. Sir John Templeton had a quote about "investing at the point of maximum pessimism." I believe this is great advise for both longs and shorts. Shorts just need to short at the point of maximum exuberance. Yes, I am long BT. Pravda