Pacific Internet Next HOT IPO? Message Board

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Technology Stocks : Pacific Internet Next HOT IPO?

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To: zakaran who wrote (907)	6/18/2000 4:32:00 PM
From: Seeker of Truth	Read Replies (1) of 912

Steve Harmon, the internet guru, keeps saying that PCNTF has the Singapore Government behind it. The truth is the opposite. The company that owns a majority of the shares unloaded quite a lot when the price was higher. Everybody should know this. They hope to benefit by the internet craze. The company Sembawang, unlike the Singapore Government which owns much of its shares, has financial problems which may be cured if it can dump PCNTF shares at a good price. Meanwhile, retired president Lee, the most powerful man in Singapore,has a son who is president of the telephone company that has an internet branch that competes with PCNTF. That leaves PCNTF out in the cold. I used to be long PCNTF. I am not short PCNTF because I can see still better shorts and anyway my preference is for holding the shares of a company that dominates a technology, not shorting operations. Buffett says shorting doesn't pay; even when the shorted stock is really worthless it may take a very long time for the market to realize this. The average return from shorting stocks isn't great. But the return from PCNTF won't be great either.

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