NetNews Usenet Archive 1992 #31/NN_1992_31.iso/spool/rec/gambling/6222

Internet Message Format | 1993-01-01 | 1.6 KB

Path: sparky!uunet!portal!cup.portal.com!TRADER
From: [e-mail] (Paul Vincent McGinnis)
Newsgroups: rec.gambling
Subject: Re: Bally Gaming (BGII) Ups 'n' Downs
Message-ID: <[e-mail]>
Date: Fri,  1 Jan 93 01:47:31 PST
Organization: The Portal System (TM)
Distribution: world
References:  <[e-mail]>
Lines: 21

In a recent article, [e-mail] (Kenneth B. Elliott III) asked about
the stock happenings at Bally Gaming (stock symbol BGII). I haven't followed
them in a while, but I assume they are a subsidiary of Bally Mfg. Bally's
is in serious financial trouble - they recently had to sell their Reno
casino. They also own Holiday Health Spas, (Their stock symbol is BLY - they
may have split into multiple entitities...)

Just to clarify-stock prices often bear little relation to the value of a
company. It's another form of gambling, except you're playing for "real
money". My own bet for 1993 is on Amdahl Corp. (AMH). Many investors treat
stocks as pieces of paper (or bytes of computer storage). I'll admit-if I
believed I could make money on a company devoted to nude, vegetarian,
sky divers, I'd probably do it. If you want to invest in gambling stocks,
I recommend Financial Funds' Leisure Fund (CUSIP symbol FLISX), P.O. Box
2040, Denver, CO, 80201. I've had a good year (1992) with them. They not
only own gambling stocks, but distillery stocks, cruise line stocks, etc.
Since a mutual fund owns stocks in many companies, the risk is diluted.

Paul McGinnis / [e-mail]
(Hoping to make money from my investments, since I'm now an unemployed
 computer programmer)