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

To: Kevin Podsiadlik who wrote (8370)	5/10/1999 8:01:00 AM
From: Mr_X	Respond to of 18998

Kevin- Yes - not without risk. If there is criminal fraud as in Cendant, this will be a disaster. My initial understanding is that with the change in auditors due to the merger, the new firm held the company to a higher standard as to when a sales cease to be "contingent". Seems benign enough to roll the dice that it doesn;t get much worse. Also, just because a pending sale is labeled "contingent" doesn't mean it doesn't eventually close. Shouldn't be many pending sales left from earlier quarters to examine- they either would have closed by now or been broken. Your point is well taken, and let me add to the list of recent frauds that got worse after first announced- 1) North Face - which opens again today after a 3 week "vacation" from trading. 2)Vesta Insurance 3)Oxford Health I think this one might be a little different though. Curious what others think. MR. X