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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells
BLDP 2.160-0.9%Feb 10 3:59 PM EST

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To: Garth Richmond who wrote (647)4/18/1997 5:40:00 PM
From: Sid Turtlman   of 5827
 
Garth: I don't have much to add without repeating myself. I agree very strongly with your point #2, that Ballard could never get the rest of the way themselves without a very deep pocketed partner. Selling stock and giving up 2/3 of the potential engine profits was a sensible thing for the management to do, given the company's financial limitations relative to the difficulty of the problem it is trying to solve.

The fact that two high ranked research departments disagree with me makes me feel much more confident of my viewpoint. My best profits have always come by doing the opposite of the unanimous opinion of leading investment firms. Actually, I am not short any Ballard, so I am not really doing the opposite yet. I figure it could still have another 10%-25% worth of upside before peaking out, so there is no rush.

In any event, I do appreciate your articulate presentation of the bullish case. I wish some of the other bulls would use your writing as a model.
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