Ted:
You stated:
> I think that language conversion tools have their place in the market. I don't believe, however, that the overall appeal and usefulness is as great as the people who are promoting them would like to think ... or more correctly stated, would like you to think.
I could not have agreed with you more on the subject. As someone who wrote a translator from COBOL to C++ many years ago I am very well aware of the complexities involved. However, as I also stated in my post,, Sapiens can benefit greatly by using their Falcon product in conjunction with their consultants to convert the mainframe applications into components and also to solve the Y2K problem. It is rediculous to think that a translator can do the job alone. It is simply a tool, and Sapiens can capitalize on this greatly, especially with the new notion of thin client architecture and software componization. There are so many companies still chained to their old legacy mainframe code who would do anything to transform them to the modern software methodologies without re-writing the entire application. And as a software tools/consultant organization Sapiens, in my opinion, can benefit greatly. Notice that I said can! This is all based on how Sapiens marketing/sales and R&D want to play the game. To me, and I have been invested in them over 3 1/2 years, they are like a little kid with a Ferrari who does not know how to drive it, and when he tries to do so he always ends up getting into some sort of accident! The interesting thing is though, he never gives up, and that is exactly why I am still invested in the company! IF the notion software componization of old legacy mainframe code through ActiveX/COM and JavaBeans encapsulation is captured by Spaiens marketing and consulant side of business via their Falcon and Object Pool technology, Spaines is in an excellent position to profit greatly due to its global exposure and reputation as a client-server solution provider, and this stock can easily become a high flyer.
You state:
then the valuations of the stock will be lower than what has been near-hyped on this thread. Caution is advised.
Of course cautious should be advised with this stock (or for that matter any stock - but especially the small/micro cap stocks)! If you look at the 4 year chart of SPNSF you will realize the stock has been all over: from $28/shr to 50 cents! I was caught somewhere from $14 all the way to $2/shr! The company has a loyal customer base and has a very good global exposure. Besides its rapidly becoming mature Object Pool and client-server technology, the most important factor, IMHO, that is going for the company is its highly dedicated management. They have made many mistakes in the past, but I truly believe they are focused now and have become extremly competent, IMHO, after going through some very painful lessons. Note that the management owns most of the outstanding shares and I know one thing for sure: you can not find any more hardworking individuals than the current management of Sapiens anywhere, and that to me is the most valuable assets the company has: their integrity and hard work. Needless to say, Sapiens (the stock) should be purchased as a highly speculative investment.
Regards,
Addi Jamshidi |
