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Technology Stocks : IDTC Options Players (losers and whiners)
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To: Steve Fancy who wrote (468)3/27/2000 2:41:00 PM
From: Tony A. Matthews  Read Replies (1) of 593
 
Based on opinions formed in my last post I sold my remaining position last Friday. In typical fashion stock rises as soon as I sell but today's action doesn't bother me. I'm happy not to be tied to it anymore. Today's news is interesting but not exciting. Without any clear strategy from IDT I don't see a prosperous future. Net2Phone assets although valuable are inflated and any correction in internet stocks will take NTOP with it, and thereby the value of IDT. Net2Phone was and is IDT's only gem and saviour and they divested that asset poorly. I will always be dissappointed at how IDT treated it's shareholders in this regard. It is my opinion that IDT may rise out of speculation but that's a risky investment strategy I'm not prepared to take part in. As you've said Steve, the street seemed to have valued IDT's NTOP stake at $35-$38. We saw evidence of this when investors originally got wind of the Faber report. Above and beyond this, IDT's growth has to come from a clear, understandable and convincing strategy. After all, IDT may receive $1.5 billion dollars but what are they going to do with it? Investment is about getting a better rate of return than money markets and evidence of the past 2 years shows that core IDT business provides less than adequate returns. The ventures and schemes that IDT is trying to devise to replace NTOP will do little to enhance shareholder value. Most significantly, Jonas has too much control over this company and although in the past proved astute and innovative, lacks the capabilities to lead a large company that has responsibilities and obligations to more parties than himself. There are more interesting and rewarding investments elsewhere. Good luck and farewell IDT.
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