Strategies & Market Trends : Catellus Development Corp. (CDX)

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To: The Duke of URLĀ© who wrote (55)2/8/1998 3:48:00 PM
From: Fenton White  Read Replies (3) of 91
ALL -- What a great short opportunity. Unrealistic PE; reducing asset base; no dividends; such a deal. Why would anyone own this? What is the liquidated value? It looks like California Public Employee Retirement Fund has made a huge mistake (they may be hung in mortgages to). This looks like another Orange County Derivative deal. Eventually, someone will realize what is happening and they will try to cut the losses.

The head of natural resources left and the analysis of the 780,000+- acres held in that division is defined as "non strategic". They are trying to liquidate.

Would you want your retirement in this? Your parents? Your Kids?

This is like reverse musical chairs. Whoever is left with the stock last, lost.

This is not a REIT reporting was not under GAAP.

Why would you buy this stock?

Any comment?

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