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Sycamore Networks

Sycamore Networks (SCMR)

Current price (3/17/11 $22.20)

A few things turned me off from this issue, negative OCF, negative retained earnings.  I didn't like that they're losing so much money, even though operating expenses have come down I don't see a light at the end of the tunnel, and they're trading at such a big premium to the NCAV there isn't much of a margin of safety.  This seems like an interesting company worth revisiting in a few quarters.

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