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To: accountclosed who wrote (12679)	12/9/1998 10:33:00 AM
From: yard_man	Respond to of 86076

There are many ways to try to grow earnings or the appearance thereof -- CLX recently purchased first brands. A lot of times cos will write off a lot of stuff when they buy other companies and come out smelling like a rose (on the face of things); other times it doesn't work that well (see BSX's purchase of schneider). I think CLX and PG stock valuations are both nutso for what they sell -- short CLX seemed like a safe bet. I think the world slowdown will catch up with them and revenues and earnings will fail to grow at the pace as in the last few quarters.