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Gold/Mining/Energy : Ensco International Inc. (ESV) -- Ignore unavailable to you. Want to Upgrade?

To: Roadkill who wrote (1580)	12/4/1998 10:41:00 AM
From: Gottfried	Respond to of 2005

Roadkill, FWIW I bought some SLB just now. Still holding ESV. Most of these stocks have a triple bottom. If these aren't the lows it's mighty close. A year from now we should be OK. If not, it won't be a big mistake to buy here. G.

To: Roadkill who wrote (1580)	12/4/1998 12:34:00 PM
From: LK2	Read Replies (1) \| Respond to of 2005

Roadkill, I don't know about oil drillers, but stock "value" and stock price are two different things. In the early '80s, there was often a small percentage of stocks that sold below their net working capital, which is the cash on hand minus all debt. Obviously these were companies that were having earnings problems, but the stock price was less than the cash on hand. In the current bull market (starting in 1982, 1990, 1994 or whatever date you pick), the stock market, based on book value, is more overvalued than at any time in its history. So book value is only a very loose guide to stock price. Some sectors will sell far above book, while other sectors can sell near book. Regards, Larry