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Microcap & Penny Stocks : WCAP - Winfield Capital: Insider buying
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To: Jason Compson who wrote (1078)7/6/1999 2:41:00 PM
From: Marconi  Read Replies (3) of 1305
 
Hello Mr. Compson:

Please provide a link to Sirrom Capital. Also, is it possible for WCAP to do some sort of swap to avoid taxes? That is an area that I do not understand the possibilities for RIC's. For real estate or private businesses, a swap in kind was a way to hold onto gains and delay payment of taxes (after the 1986 tax law change--but I don't know what changes occurred since then).

I agree WCAP is a fair short, and I am short. I have not hedged by buying the underlying stock to hedge my position for arbitrage. I expect to ride out any near term volatility and let the quarterly statements a year forward take their toll on the price.

My guess is there are a lot of public investors that see the "P/E" and "internet" and gloss over even a cursory reading of the business and its change in form from a struggling loan company to a RIC based on the IPO windfalls over the last year.

It would be stupid of WCAP management not to pocket this extraordinary windfall to them. It is rare to have the public bestow such a lucrative gift on a firm. And I again state I am glad to see that WCAP management has not hyped their stock, and has continued to regularly and routinely report reasonably the position of the company.
Best regards,
m

RIC = regulated investment company
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