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Technology Stocks : TouchStone S/W (TSSW)
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To: Bayclipper who wrote (3195)3/24/2000 4:02:00 PM
From: robbie_nw  Read Replies (1) of 3627
 
Gordon -

I agree that Pierre has shareholders best interest in mind...I am just not convinced that his good intentions will result in appreciation in shareholder value from here....at least not beyond the same increases that could be had by buying the IPO's directly. (since TSSW is priced at a premium to NAV...even including IPO gains which may or may not stick)

I still don't see that an incubator model should be valued much more than "net asset value".....and if that is the valuation criteria...I see upside entirely limited by the performance of the IPO's in which they invest.

At this point I can still get those IPO's cheaper by buying them direct...rather than holding TSSW. (because NAV already takes into account the gains from advantageous cost basis)
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