Walter,
You are a patient soul and the best friend such a company can have. May you be rewarded in the hereafter.
Most people don't have the stomach for this kind of pounding. It seems unfair that investors in these smaller companies should be subjected to such considerable risks without benefiting from commensurately greater rewards. Yet lately it's the big companies that have reaped all the big rewards (perhaps the only rewards).
Are you really confident that these companies will easily regain their footing and not only overcome their immediate problems but surmount the many formidable challenges and obstacles to growth? Do you see SDL being able to maintain its bargaining power against a purchaser like Lucent which is 100s of times larger than itself? Or is little SDL going to have to bear the expense of indemnifying Lucent in case Spectra-Physics decides to go after LU (just as Ciena must indemnify its customers against such occurances)? And how is SDL geared to compete against APAT, UNPH, TLAB, CIEN, LU, GLW and a range of other potential competitors much bigger than itself?
I don't seek redemption in the hereafter, but want my rewards in this lifetime. I have been getting soft and cuddly feelings for 800 lb. gorillas lately that let me sleep at night. Rather than be daring and seeking the NEXT MSFT or INTC, the "diamond in the rough", I'll be happy with those big institutional favorites. In this particular industry, which I regard as poised for unprecidented growth, my favorites would be Lucent and Corning. TLAB and UNPH I also like, but they don't have those nice steady duopoly fiber returns year in and year out to smooth out their results. Smooth is nice. Wall Street does not like surprises, especially ones that are not explained properly.
I am losing my patience with SDLI and the messages I have left at IR and CEO's office have gone unreturned.
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