Dear Robert, Thank you very much for responding to my post and glad to see your here again.
You are right about Intuit. CKFR gave 12.6 million shares (23%) for ISC and Intuit has to sell 2 million shares in order to get to below 20%. So if Intuit is doing what they have said to do, it would indicate they still hold 10.6 million shares (19.56%, before Integrien) of Checkfree, as a permanent interest. After I posted that question, I digged through some old files myself and found the old news release. Which, Doc, it's a very good news for you. Because 10.6 x $25 = $265 million, or 10.6 x $30 = $318 million. This is much higher than the $190 million "marketable security" Intuit Balance sheet has shown, needless to say they may hold other securities besides CKFR. Hidden assets ?
Robert, I know you are a powerful man in the investment community (with money under control). May I offer you a stock tip, Cymer (Ticker Symbol: CYMI). Cymi, this tiny company, holds a key technology which determines whether the semiconductor industry would keep going to more and more sophisiticated chips (0.25, micron or under). In addition to the indiscriminate market slump for semi equipment makers, there are numerous untrue rumors spread around in regards to its prospect, short and long turn, that has slapped Cymi share price from near $50 to currently $19, and falling. Cymi has a total of 28 million shares, somewhere between 6.6 to 12 million is floating. But 4.5 million has been shorted as of November reporting quarter. Unbelievable. Their 1998 earning estimate in the range of $1.02 to $1.16 by analysts, and ~ $1.30 by SI posters. BTW, Cymi is the reason I choose my identity as Cymeed, or equivalent to "screwed by the short sellers."
Have a good holiday season. |
