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Technology Stocks : Presstek -- Stock of the Decade??
PRST 0.00010000.0%Sep 29 10:16 AM EST
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To: guy leung who wrote (66)5/10/1996 6:52:00 AM
From: Gary Kao   of 11098
 
>I am personally not a believer in this stock for the long term. I have talked to people in the printing industry and they tell me new technology is developing very rapidly and in two years the PRST technology will be surpassed.

Guy: Thanks for your reply. I think your strategy of talking to people in the know as a complement to your investing is wise --and lacking in many forums devoted to thinly traded speculative stocks. The parallels between PRST and Newbridge are really eerie. As we mentioned, NN fell from 95 to 22 in a matter of months --altho' their ATM technology at that time was incredibly hyped in various newsletters. I finally got to talking to some of my tech-head friends, who to my shock told me they knew of no one was buying ATM stuff --the market was not ready for its technology. I managed to bail out at 54, but I'm sure lots of small fry got crushed. It's been three years, and NN still hasn't recovered to its alltime high.

I bought a 100 shares of PRST at 60 and sold at 115. Sure I made a killing in a short period of time, but I just had to bail out when the hype became unbearable and essentially based on fantasy. But I would have rather that it go up a consistently 50% a year the way MSFT, INTC, PMTC has for me over the past 7-8 years, with realistic and bankable PE ratios, so that I can reliably make it a nest egg for my children. Less froth, more beer as the bartender would say.

GAry
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