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Gold/Mining/Energy : GEAC.....Canadian best kept secret
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To: micromike who wrote (1513)1/27/2001 10:34:23 AM
From: Michael Dean  Read Replies (1) of 1571
 
I put a big chunk of my savings in GEAC at $1.55 back in the late 80's (It had fallen from about $8 I recall).

I sold half when it got to $8, 1/3 of the remainder at $16 and the balance in the $40's, part on the way up and part on the way down from $60. (All figures split adjusted).

I have a kind of emotional attachment and continue to watch the stock. I was very tempted to buy in when it started to nibble at $2.00 but unfortunately I didn't.

In the late 80's GEAC was both a hardware manufacturer and a software company. Customers liked the software but didn't want to be tied to non-mainstream hardware. GEAC was actually in receivership. Their customers stayed loyal.

GEAC made the change to a predominantly software company. New money and management came in .. including Steven Sadler, and growth through acquisition began.

This time, it is unlikely such a huge gain could occur. The company situation is not nearly so dire, and there is not such a major transition in company business. It is too early to see how much effect the management changes will have.

I think, just based on the customer base and acquisitions anyone who bought just recently has a pretty good chance for a double or triple, but not X40 like the old days.

Good luck all.

MD
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