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Non-Tech : Atlas Air -- Ignore unavailable to you. Want to Upgrade?

To: Tony van Werkhooven who wrote (158)	11/25/1998 12:20:00 PM
From: Adam Nash	Respond to of 182

CGO is now at the highest I've ever seen it, although granted I've been following it 18 mo. If you give them a 20 P/E, that's a fair value of $60 since they are on track to earn $3/share, so I can't say I feel it is overvalued. Even a P/E of 15, ignoring their current fast growth, gives them a 45 fair value. I'm not sure why there has been such a run-up the past few days. However, I have the feeling there is some news that we just aren't getting. If we reach 50, I may lighten up a bit, but not until then.

To: Tony van Werkhooven who wrote (158)	11/25/1998 1:52:00 PM
From: Eric Berry	Read Replies (1) \| Respond to of 182

Tony, That was a very interesting article posted on Yahoo. I wonder where it came from? The WSJ? The only thing I can figure this recent run up can be attributed to is the new contract with Fed Ex. But that's just a guess. Short term I think selling now would not be a bad decision. The price has appreciated considerably recently, so a downward drop soon would not suprise me. However, I am not good at timing the market (if I was I could have made a ton of money on CGO!) so I'm holding on. I bought this in 1996 for an average price of $36 - saw it go all the way up to the $70's and watched it fall to the $20's, but I'm hanging in there. According to that article, CGO will have almost doubled it's fleet in just over two years. Amazing. They seem to be hitting on all cylinders so I'm holding... I hope they don't buy any non 747's. That seems like just asking for trouble in the terms of more maintenace. I think just having two types of planes and one type of engine has really helped them keep costs down. For more interesting reading check out the Motley Fool, where they just sold their position in CGO. They have a very thorough discussion as to why they sold.... Good Luck! Eric B.