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Non-Tech : Any info about Iomega (IOM)?
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To: Young D.T. Nguyen who wrote (3171)6/19/1996 8:32:00 AM
From: Joe Rizzo   of 58324
 
Young, the fact is that the stock price got way ahead of the fundamentals. At its peak, Iomega's valuation totalled $8 billion dollars. While this may be appropriate when Iomega replaces the floppy, it was not appropriate at this juncture. My other observations:

Hubris is always punished, especially in the stock market. And this chat group reeked of hubris. Winner Victorious take note--and change your name.

Be careful of bottom picking; it is a lucrative game, but a dangerous one. The saying is: "don't try to catch a falling knife; wait until it hits the floor." I will go long this stock at some point; but I am waiting.

I attended the Bear Stearns technology conference in NY yesterday and several points were clear from talking to analyst and portfolio managers:

1) Wall Street still does not understand Iomega. The analysis in this group dwarfs the garbage generated from Wall Street. Even though I have been short; I've become a believer in the company.

2) Most importantly, the technology strategist from Western Digital conceded the floppy spot to Iomega. He saw the hard drive business as not in competition with Iomega. Western's goal is just to dominate hard drives: removable, portable, enterprise etc.

Joe Rizzo
JMR Trading

P.S. I've covered my short and will go out and buy a Zip shortly.
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