Auric, I am sorry for the wisecracks. You are correct. That was unprovoked and unwarranted. . .and for that, I deserve the wrath of your post early this morning.
In reviewing your complaints on LightPath, I could not see the point of the data presented. And I certainly could not see exactly how it is you have arrived at the determination that LightPath is a scam. Perhaps you could explain it in your own words. To me, it seemed as though you were grasping at straws to support your short-sell position stance. And that is fine, but lets discuss that for a minute.
We play stocks both long and short around here. But the one thing we avoid here is unsubstantiated or weakly presented arguments. . .and that is why I think so many posters were quick to flame you. [I generally don't take well to either bashers or hypesters. ] If you have an issue to discuss, there are many well-informed traders that would happily discuss the issues openly and item by item on the LPTHA board.
Many of us are quite knowledgeable on LightPath [http://www.lightpath.com/index.html] and LightChip [http://www.lightchip.com/NO%20Presentation/sld001.htm] and are capable of arguing with an open mind. . .for the sake of getting at the truth. We have no hypesters here.
Understand this. . . .I don't believe ANY stock is perfect. A.T.& T., MCD, BA, IBM. . you name it. . . there is certainly SOME element of scam in even the BEST of them. So I don't trust ANY company. . . nor do I marry any. But I also believe that whatever element of scam there is in a stock changes over time. . .for the better or for the worse.
When we at HOME, come upon a scammy element in a stock. . .we discuss it. If it is insignificant, we may choose to keep a close eye, but otherwise "forgive" it. But if it appears to affect the very fiber of the company, we will drop it like a hot potato and most likely never look back. I have not seen sufficient argument to convince me of any current scam elements in LPTHA.
But make no mistake. . . Nobody here is the least bit interested in perpetuating a scam. That much is for certain. . . look around at the posts here. . . go back a week. . a month. . .longer. . .it just doesn't happen here. . . we simply don't allow it. . . and that is why this board has survived, where so many have fallen.
Six months ago, we discussed LPTHA at length on the HOME thread. Some of the points you seem to be bringing up, were discussed. But they were seen as fairly insignificant, when averaged against further information we were getting.
I hope my appeal is not wasted on deaf ears, but in the spirit of seeking the truth, I present the reason we are still interested in LPTHA. . . .though most of us sold out at $50 and are waiting on you to take us back to single digits, so we may reload. This may shed light on why we have LPTHA under accumulation.
The basic story is this:
Yes, LightPath's IPO back in 1996, admittedly, looked pretty scammy. . .DH Blair and all. And the stock really looked like a dog for quite some time. I paid it no attention at all. Then in November of 1999, several things caught my attention. After their scientists [however talented] stumbled on to a discovery that was significant. . . .GRADIUM lenses. . . .LightPath invested in LightChip along with A.T. & T. And LightChip has been developing some exciting [though fairly secret] new optical networking switching products at their headquarters, which reportedly is attached to Lucent in New Hampshire. LightChip's head guy is from Lucent.
So LightPath's GRADIUM lenses began to find a market. . .optical switches were getting sold to ETEK. . . LightPaths collimators are an important product in "all-optical" networking.
And in case you don't know, all-optical routers will soon replace the current breed, like Cisco's, which require a conversion back to electricity to perform their switching. A few months ago, Lucent announced the first "all-optical" router. . . Ten times faster than Cisco's fastest!! This development could upset Cisco as the king of the router business. And I don't need to tell you how big an industry that is.
So then, in October of 1999, tiny insignificant LightPath gets a top name CEO. . .who led the multi-billion dollar AMP to a buyout by Tyco. Soon afterwards two career Bell Labs/Lucent marketing & sales executives leave Lucent to head LightPath's sales. Soon after LightPath opens another branch near Lucent's Warren, NJ complex, their largest. I doubt those executives even sold their New Jersey homes, knowing they would be getting a LightPath office near Lucent and their hometowns.
Now while there is some conjecture in the speculative stance that there is 'something in the making' between LightPath/LightChip and Lucent, as you well know, speculation is what successful long investor/traders must use to win. Once word hits the streets, there is no longer an advantage to the trade.
Recently, LightChip has had to increase their production capacity at their factories from a single shift to three shifts round-the-clock. . . this has been verified. In addition, they have contracted the services of a Pacific Rim manufacturing company, which has invested 1.5 million of its own money to re-tool for the sole purpose of handling the growing contract orders by LightChip.
Now, that speaks one word to me. . . growth.
LightPath, under the new direction of AMP's Robert Rupp, is cautious to not release any fluff press releases. And that is why we have more speculation than we do hard facts on what exactly is going on between LightPath and Lucent. But then, if there were loads of press releases, our warning bells would be triggered.
So the bottom line is that while LightPath may have at one time been a scammy POS. They no longer resemble that IPO company. DHBlair is clearly out of the picture, since Robert Rupp became the new CEO. In the past 6 months, the only reference to DHBlair comes in a reference to warrants issued under them, which are now expired. . . another move by the new CEO to wash LightPath from its rough beginnings. And I sincerely believe that CEO Robert Rupp is making the right decisions to position LightPath as an important player in the rapidly growing optical networking sector. . . perhaps even setting them up to be taken out by say JDSU, LU or even CSCO. . . and definitely growing the company.
Auric, you needn't re-state your argument, unless you too wish to be better understood. Suffice it to say we currently disagree. And that is fine.
But as individual investors, we have enough enemies in these markets. . . we don't need to fight one another, too. I will not again take potshots at you on the LPTHA board or anywhere else, if you too are willing to bury the hatchet. And once again, I sincerely apologize for the wisecracks.
You are welcome to share your thoughts on this issue. . .or not. . .your choice. And you are welcome to present ideas here, as well as warning us of any pitfalls that we might miss on any future stock plays.
Best wishes to you.
Sincerely,
Rande Is |
