If anyone is expecting Corel to outperform MSFT, keep waiting. I used to hate Microsoft, but now I can see merit to everything they are doing. They are producing excellent products, protecting their shareholders (I haven't seen a MSFT shareholder who complained), and expanding their market hold and products. They have over $10 billion in cash and can bleed Corel to its demise. Cowpland does not care about the shareholders, as one contributer to this thread said, he brought MITEL's shares down to $2 through bad management, then sold the company and become $150 million richer and screw the shareholders who lost a fortune investing in MITEL. He can do just the same with Corel. When the situation worsens he will bail-out maybe another $100 million richer and leave the investors close to bunkruptcy. I sold 60% of my holdings in Corel (at a substantial loss) and will sell the remaining next week. I will look for a company with potential growth, has its own market niche and is not going to fight Goliath to keep it. Canadian high tech companies are disasters and it is pure waste of money investing in any of them (check: PC-DOC, COS, FULCRUM, American Sensors, etc.) I will look elsewhere for investment.
Maybe instead of the title for this thread to be Corel $100 in 1998 it should be let us hope Corel by 1998 returns to $10.
This was a very, very expensive lesson. Now I know how owners of Bre-X shares who lost a fortune feel (my loss is nothing in compare to some Bre-X owners.)
Good-luck to all and keep rooting for this money sink, you should all be thanking Cowpland for making you lose money.
Maher |
