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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (4537)	2/28/1999 8:11:00 PM
From: Bob Trocchi	Read Replies (1) \| Respond to of 4634

Dale... Re: PBRZ I have no position or knowledge of PBRZ but a quick look at their profile on Yahoo indicates they have $82M in cash and in the past 12 months they lost $6.67M. This sounds to me like they have enough cash to keep them going for a long time. Based on that I would not consider it for a long term short. Short term, maybe. On the other hand, their business seems to me to be a loser. Selling these services to small companies can be very expensive. I will look forward to Michael's reasoning. Regards Bob T.

To: Dale Baker who wrote (4537)	3/1/1999 1:00:00 AM
From: Michael	Read Replies (1) \| Respond to of 4634

My Friend Dale: I am short PRBZ for several reasons. I am currently short 3 stocks, ALTIF, ZITL, PRBZ. 1) Of the 3 PRBZ is the only one still shortable at Datek. 2) PRBZ has very low institutional ownership 3) PRBZ has never made money 4) PRBZ business model seems to be to lose money on every sale and make up for it by doing it in volume. 5) PRBZ actually business (payroll processing) is a commodity type product, that is already very competitive. 6) PRBZ has such low trading volume that it seems that no one wants it. 7) PRBZ's valuation compared to the major payroll processors is absurd. The only question I have on PRBZ is it a short to zero play like I think ZITL and ALTIF are. Sure is a nice day michael