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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (17363)	7/6/2003 5:14:05 PM
From: MCsweet	Read Replies (1) of 78499

Paul, I recommend VNWI on the Low Price Cash board in the 0.60 to 0.70 range several months ago. At about 1.00, I have sold off some of my original position, but still have a decent holding in this firm. VNWI is still a below-cash stock with new management in place that seems focused on achieving profitability. VNWI has also initiated a shareholder buyback (although buyback progress is uncertain), but there is also a potential reverse split that is hanging over the stock. The stock keeps hovering around $1.00, which I think is the minimum price requirement for listing --- I'd rather they'd just do the reverse split and get it over with. At the very least it'd save me on brokerage fees ... It would be nice if those technology folks gave this stock some of the ridiculous valuations that other techie stocks are now starting to get. It is almost like with these high-cash stocks you get the cash (minus a couple quarters of burn) as a floor with a free call option in case investors want to give your stock an irrational valuation. I've already seen it with ALVR, DCRN, AVNX, etc. MC

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