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Technology Stocks : 3Com Corporation (COMS)
COMS 0.001600.0%Jan 29 9:30 AM EST
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To: Moonray who wrote (34260)9/19/1999 3:48:00 PM
From: KyrosL  Read Replies (4) of 45548
 
Quality of 3Com management.

As I have explained repeatedly I bought 3Com a few weeks back because I think it's a screaming bargain compared to most technology stocks, the chart looks good, the Palm looks great, and there are even some glimmers of hope in the networking area. I was aware that the quality of 3Com management may not be stellar but IMHO it's not as bad as some people on this thread will have us believe. There is no question that the 1997 acquisition of USRX was a huge gamble that turned out to be a mistake from which the company is still recovering -- by the way, 3Com stock increased after the merger was announced in 1997, so WS did not believe at the time that this was a bad move... There is also no question that the dumping of company stock by insiders at the end of 1998 was not an act of moral fortitude. However, I took a look at the company record before the 1997 disaster, and it is not that bad. In fact, it is as good as Cisco's during that time --surprise surprise!

Eric took over the company during 1990. 3Com stock increased from $2 at the end of 1990 to $70 at the end of 1996, an increase of 35 times during 6 years, or a compound growth rate of 80% a year. Anybody that can grow a company at this rate for this long can't be all bad. What do Eric's haters have to say about that? Is there something about this period I am missing? Was it a different Eric that was at the helm of 3Com during that time?
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