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Technology Stocks : Softbank Group Corp

SFTBY 81.06

-8.3%

Nov 4 3:59 PM EST

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To: TobagoJack who wrote (4247)	3/6/2000 7:10:00 PM
From: Edwin S. Fujinaka	Read Replies (3) of 6018

Softbank closes in the US OTC Market at $1070, down $290 or 21.32%. Now that is a downdraft! Still, there have been no real surprises over the last few weeks (and perhaps, months) so we are not dealing with any real changes in the outlook for Softbank over the near term. Perhaps it will develop that Softbank cannot get an allocation of a useable frequency for their wireless ISP plans. That could be a real setback. On the other hand, if they are permitted to proceed along the lines that they outlined initially, that ought to be a big boost for the Softbank stock. This is one of the real issues that will be a test of Son's political skills. The bank deal looks to be an overall plus for Softbank where any potential losses are limited by the put back provisions and the balance of the deal has the potential to be an overall moneymaker. Perhaps more important than making money, the bank deal gives Softbank additional ways to lure in desirable IPOs since Softbank will have the ability to provide ordinary bank type financing to some small companies at various stages in their development. I don't see much downside risk in the Softbank Bank deal. It would be nice to have the entire array of derivatives (puts and calls) at reasonable premiums. I suspect that I would be selling puts at just below the market (or perhaps even in the money) at this point. I salivate at the thought. This technique permits one to buy into a company at below the current market in some cases. From your description of the calls that are available, I might have been selling calls a week ago (Isn't hindsight great <G>?). As it is, I am patiently hanging in there...

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