RRRR: Rare Medium Group (soon to be) formerly ICC Message Board

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Technology Stocks : RRRR: Rare Medium Group (soon to be) formerly ICC

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To: Mahatmabenfoo who wrote (847)	9/30/1999 8:03:00 AM
From: CF Rebel	of 1150

Charles, When I use the term "incorrigible," it is meant in the sense that your thinking on this company has been single-minded (after you decided to invest) and seemingly unalterable. There's nothing wrong with disagreeing and laying it on the line. I just think it curious that you'd invest before having asked the questions about the company you later asked. I invested in the company a couple of months after discovering it (Dec. '98 and again in March '99). Because the company's finances were pretty much unknown, if not downright shaky, I paid a lot of attention to what Meyers was saying and the people being brought on board. I learned about the company in a press release that stated that an executive from Qwest Communications had joined the BOD. Others who joined the BOD and technical types being brought on board to put together the company's network had high qualifications. Meyers was also required to put his own money into the company to gain access to the capital needed to fund what he was doing. He also had some venture capital experience in his background. Because investing is a highly intuitional activity, I invested on the clues and expected to be in RRRR for a couple of years at least. The investment by Apollo was a serious vote of confidence in Meyers' vision. When it was announced that RRRR would become an incubator of sorts for internet companies at the time of Apollo's investment, the stock took off. Of course with the dilution caused by Apollo's investment there are caveats to consider. I sold out of RRRR in late April at 17 and change (avg. buy price was 4.25). I sold because I thought it would take awhile for the company to evolve to the point that justified it's price, then. It is a fairly slow building process and I'm still watching the company since I may be back in in the future. Why? The company has a pretty unique angle. The company gets businesses on-line and so can watch this "parade" of companies and cherry-pick the ones that are ripe for expansion. RRRR will be something of a gatekeeper. It's not as if they have to go through investment bankers (very expensive) to find their prospects - they have them right under their noses. They can even beat the investment bankers' to the punch. To look at RRRR simply as a company for hire (labor to build web sites) with low margins misses the point. That's just a front business, a "loss leader" to get to where the real money is. Yes, the internet sector is overblown in price, but even when it comes back down to reality, RRRR should still occupy a profitable space that gives it a view as to what is needed next as the internet evolves. You have to see the forest for the trees. Regards, CF Rebel

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