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

To: Mr. Pink who wrote (8197)	4/29/1999 7:00:00 PM
From: Peter V	Read Replies (2) \| Respond to of 18998

FP was a lesson for me. Got a quick profit and hopped off the board looking for another wave. As I paddled out I began to hear a roar behind me and turned around to see that the FP wave tripled in size, caught a big offshore breeze and became a humongous tube ride for any of those still in it. I watched the FP wave roll into the shore in amazement as the PVN wave began to sneak up on me from behind. The PVN wave broke in the opposite direction and put me in the washing machine, causing all those FP profits to shake out of my pockets. I still have water in my sinuses from that one, and big holes in my wetsuit. Lesson to be learned: when Mr. Pink calls a T5/f, put some extra Mr. Zog's wax on the board and get ready for the big ride. Nice job, dude.

To: Mr. Pink who wrote (8197)	4/29/1999 9:59:00 PM
From: Mr_X	Read Replies (2) \| Respond to of 18998

Mr. Pink: For Your consideration: Premier Technologies (PTEK): Just reported $18 mil of EBITDA for the quarter, should do $100 million for the year, there is $170 mil of busted converts and 50 million shares - common worth about $12 bucks at 8x, which is probably way too low a multiple. In addition, PTEK owns 9% of WEBMD and 14% of Net USA, both of which are in registration for IPO's. The CEO of PTEK, a shameless promoter named Bo, said on the conf call that the value of these two stakes are $750 mil, or $15 a share. This is based on a recent financing WEBMD did with MSFT. PTEK can liquidate there stake to MSFT at a $2.4 bil vbaluation, or keep their stock, which will probably trade at a huge valuation to MSFT's cost when it comes public in June. All together, the values are AT LEAST in the high 20's, and Internut Insanity could easily take this higher. With the stock at $14, PTEK seems to fit your criteria as a Flying Turd. Thought I'd offer it up for Your consideration. Mr. X