Sapiens International Corporation (SPNSF): Turn around...? Message Board

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Technology Stocks : Sapiens International Corporation (SPNSF): Turn around...?

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To: Tom Allinder who wrote (211)	8/26/1997 2:12:00 PM
From: uu	of 1936

I have been a SPNSF holder for over 3 years now. I was just going over my borkerage statements, Bought SPNSF for the first time on February 10, 1994 at $14.25, and then averaged down all the way to $3 and I now wished I had bought more when it went to 50 cents/shr late in 94! During all these 3 agonizing years SPNSF has been sitting at $2-$3/shr till finally it got its act together and is enjoying what it truly deserves (which in my opinion is around $20-$22/shr - but who knows?!). The funny thing is SPNSF got into Y2K purely by accident! The company is primarily a client-server software company and should do extremely well on its own and core product lines (namely Object Pool) and based on that product line the stock deserves a P/E of around 40-50 considering the anticipated 60-70% growth. Now add to that the Y2K product and who knows what the end result would be! All I know is that this is another example of how one should never ever sell a stock just because it temporarily ran into a bump (eventhough this bump may take 3 years or more to overcome which seems a long time for many), but considering the total return one will have, 3 years is really nothing! When buying a stock and then if it goes down always go to the very first reasons why you bought the stock in the first place and remember your initial purchase reasons. For me those reasons were primarily a strong, dedicated management that continues to hold at least 40-50% of the outstanding shares, and despite the fact that they may have done some really naive stupid things back in 94 they never (especially Ron Zuckerman the CEO and Shai Sole the VP of development) gave up on their dream of making Sapiens into a success (and to Mr. Zuckerman that means a stock price of $80/shr+ at least)! I know this since I was a software developer in company's Santa Barbara lab from 1989 through 1995 and know the management quite well. A definite Congratulation is in order because there were times that even I thought they can not make it. Anyway, I will most probably be out before the stock reaches $80+ (if it does at all!) (at around $18-$22 or who knows), but I have this feeling Mr. Zuckerman may get his wish. From what I hear he is still very very workaholic, dedicated and continues to strongly believe in his dream of making Sapiens into a world class very dominant software company. Regards, Addi Jamshidi

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