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

To: VLAD who wrote (38398)	2/26/1999 1:56:00 PM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

As CNBC demonstrates every year, many ANALysts are not even as good as darts when it comes to picking good/bad stocks. Even fewer can do better than random over the long term. Almost none do any TRUE quarter-to-quarter research beyond what the company's themselves provide. Guess that's why they make the big bucks? I DO share the concern about FLC's debt status. Simple number crunching quickly reveals they MUST raise substantial capital. This is one of the worst times in the industry's history to be doing that. There is NO market for equipment now - everyone has idle equipment. The ONLY way I can see them raising cash (barring a buyout) is by dramatically reducing equity of current shareholders by issuing new preferred (convertible) stock at a substantial discount. I don't want to be holding the stock when (not if) that happens because equity holders will be the ones PAYING for that discount. Maybe afterwards...