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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: A. Geiche who wrote (35608)	1/21/1999 9:33:00 PM
From: marc chatman	Read Replies (2) \| Respond to of 95453

<<How come George Soros invested so heavily in it, put so huge money and all just in only one basket? . . . Soros' announcement did not impress the market. Stock performs very poorly.. Any comments?>> A couple. Do we know for sure Soros put all his eggs in the one basket? I suppose he possibly did, but I think you pretty much answered your own first question. I've no doubt he looked at the company inside out and upside down -- maybe he didn't think it had a "much brighter future than ANY other oil patch company," but he probably felt it was the most undervalued company in the patch with the best probability of achieving fair value. And I would guess he's not concerned about the price action over the past week. He probably invested with more than a one week time frame in mind. As for impressing the markets, I'm sort of glad the stock didn't get an artificial pop on the news. I'm content to let it play out over the long run. In fact, I'm very tempted to add at the current price, which is about my average basis (almost certain to buy if it dips below 7 again).