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Technology Stocks : Ascend Communications (ASND)
ASND 205.50-1.5%Dec 5 3:59 PM EST
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To: Douglas V. Fant who wrote (32579)1/30/1998 12:42:00 AM
From: Gary Korn  Read Replies (1) of 61433
 
Doug,

Thanks for the note. I'm not at all good at technical indicators, but I do appreciate the updates.

I also do like that prior post, wherein it was noted that TIAA/CREF had actually increased its position in ASND (at least as of 9/30/97) to 5.2MM shares. These people tend to invest for the long term, and with that perspective, they sometimes take what some would consider to be gambles. I recall the big gamble that they took on the Mall of America (largely financed by TIAA). Aat the time, there was some criticism of the size of the investment by TIAA. I understand, now, that the Mall is big success and the debt payments are solid.

Perhaps CREF has the same kind of relatively long term commitment to this stock that is most consistent with the pitch being delivered by Ejabat/Ashby: Wait for 2H98 for double-digit performance.

Gary Korn
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