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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: TRIIBoy who wrote (4951)	12/6/1998 1:11:00 AM
From: TERRY MURPHY	Read Replies (1) \| Respond to of 18998

VTCH is the SHORT of a lifetime. Has all the elements of a good short: rapidly rising DSOs (when you indlude the ludicrous amount the company is factoring to some Brazilian finance company for cash and notes), rising inventory days, negative operating cash flow vs. positive net income, related party transactions, currency exposure (all revs are Real denominated and all debt is in US $). Not to mention that even if this company was US based, it would still be a great short. Who the hell actually believes that the company can compete on a long-term basis w/ DELL (who just opened a factory in Brazil) and CPQ? Not me. The only reason the stock keeps going up is because insiders keep propping it up w/ their buying in a thin market. Can't hide a bad business model forever though. TARGET PRICE: $2....Pink has had some good calls, i've been watching, and have decided now to grace this board w/ my insightful commentary. All will benefit handsomly. TERRY