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Technology Stocks : Presstek -- Stock of the Decade??
PRST 0.00010000.0%Sep 29 10:16 AM EST
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To: John Lengyel who wrote (1134)8/15/1996 12:18:00 PM
From: Richard F. Hubbell   of 11098
 
Discussion requested - 'what happens now?'

John you asked the $64 question. Obviously, there are many possible scenarios. Others may wish to pose a bullish equivalent to the bearish scenario that many people familiar with security filings are implying. In order that we may ascertain the potential downside risk in holding the stock, let us engage a discussion of the worst possible bearish outcome of this recent incident. After all, any successful long term investor will underscore the necessity of understanding potential risks in any investment. All of the most bearish scenarios that could happen always end up with:

"Who is going to sell first?"
"What will be the order of subsequent sellers?"
"How low could it go?"

I will try it first:

First: Mutual Funds like Twentieth Century Ultra. Closely followed by the remaining funds that still hold the stock. Pressured by redemptions and fear of entanglement in the ongoing SEC investigations and the growing number of lawsuits.

Then: Lutts will recommend sale on hotline. He will then dump his stake and the Cabot Money Management stake.

Then: Insiders will sell up to SEC imposed limits.

Finally: Tax loss selling will finish.

Final *potential* price: $10.

Remember, this is just a discussion topic. It is not an attack on anyone. I know that many of us have thought about this question privately - now let's get it out in the open and explore the possibilities. If anyone wants to come up with a discussion on "Who is going to buy it first?" I will be more than happy to enter in with you, as a good exercise in being aware of all the possibilities! But let us ascertain the risk side first.

A good rule in investing is "Don't talk to me about return ON my money - until you talk to me about the return OF my money!"

Thank you all,

RH
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