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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: John Carragher who wrote (2427)10/7/1999 6:44:00 PM
From: quidditch  Read Replies (1) of 15615
 
John, good to see you over here (Q qomrades in arms):

The failure of BellSouth stock to do so is being interpreted as significant, Burnett said.
"The market is telling us that BellSouth has something up its sleeve," he said.

Either that or the market is disappointed that BS didn't make the strategic acquisition that analysts thought necessary for it to get out of the station (re. why price didn't rise, as is typical when a suitor loses).

Again, I for one am strongly opposed to a takeover here. Who wants 20 points from here on his/her position? Maybe the traders. In the long term scheme of things, that 20 points will mean nothing to our portfolios. I'd rather play the game as sketched out by Winnick, Scanlon, Clayton et. al. If we lose and the business model does not work or macro developments in the industry somehow don't go GBLX' way, so be it. If we win, that 20 points might seem as important as a gnat nibbling the rump of a hippopatumus.

Even though the stakes are far higher for management, given the size of their positions (and where 20 points would run into real money), they had 62 from USW. Winnick knows the war rooms from DBL days. His sights are set high. Ours should be too.

Regards. Steve
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