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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Pallisard who wrote (15997)11/12/1999 2:38:00 AM
From: Robert Cohen  Read Replies (1) of 27311
 
Larry

I establish a long position with the hope and expectation that the company is successful. Others may establish a short position believing that the stock is overvalued, that management is poor or that the business plan is flawed. I accept this as an ethical difference in opinion in an efficient market. What makes me mad is the attitude that a concerted group of financially well healed individuals has the power to attack start-up companies and cause them to fail in the hopes of making a buck. To me this behavior represents capitalism at its worst and harkens back to the days of the Robber Barons. Had not AOL purchased Netscape, Microsoft by giving away its product would have forced Netscape out of business. Talented and dedicated people would have become unemployed and stockholders would have lost their entire investment. Microsoft's behavior was in my mind reprehensible and unethical and the courts agree. In the end Larry, perhaps your value system is just different than mine.

Robert
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