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Mon, 22 Aug 2005
ADM by JJC---interesting
How big is it going to be? I think that's the wrong question. The right question is that even if you think that oil just stays here -- let alone the doomsday forecast we got in this weekend's New York Times Magazine, Archer Daniels doesn't deserve a supermarket multiple, it deserves an oil multiple, which puts the stock a lot higher than its current 12 times-earnings projections.
Posted 17:53

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