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Mike:

Aw, of course! You're absolutely correct. My occasional dyslectic mind cramps and I misspeak. Lots of difference between "profit" and "cash flow". I should have been more careful.

Last year, on a part time basis I "built out" some townhouses my brother and some partners had problems with 4 years ago and shut it down for 2 years until the recent mkt. boom began. I had a "very clear and bright" understanding after I finished---having begun with a "fundamental" picture from prior experience with the same game 10-15 years earlier. Same principle in any business. Thankfully, we made made a very nice and reasonable (10%) profit and recovered all the prior losses the other partners suffered. Now got to pay the taxes! Argggggg!!!!

Presumably one could just substitute the word revenue for each time I wrote profit in the post and the concepts I asked you to "task" would be acceptable.

Many thanx for your review and thoughts. I mostly just read on this board, venturing to ask a few occasional questions....mostly for clarification. Seems to me the concepts of the "field manual" are becoming a "tornadic" microcosym within and of themselves. I am almost certain the book sales are as well. Finally, I keep waking up thinking about the difficulties we all face in the swift acceleration in "future cash discounting" which is seen in the valuations of co.s lacking various and sometimes seriously critical characteristics to be considered "candidates". So much for risk issues!! No one wants to miss the early train!! FUD and greed are surely a handicap!!!!

When all is said and done tho', I remain convinced the basic "risk/return" principles of the Game are fundamently correct beyond doubt. Only need a glance at Cisco and Oracle and INTC!

taking coals to Newcastle,nuff said, Keith
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