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Non-Tech : Any info about Iomega (IOM)?
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To: s. bateh who wrote (46641)2/2/1998 6:33:00 PM
From: Jock Hutchinson  Read Replies (7) of 58324
 
You people are amazing. This stock has seen its price go down 80 percent in slightly more than two and one half years, and now you are going to tough it out even if you have to wait a year and a half for your stock to triple in price. Boy that's real investing. Folks get real. This is a commodity product with a transitional product that can be readily duplicated by other more fully financed competitors. And what does the company do? It engages in a 100 million dollar campaign to essentially correct an inventory imbalance--not spend the money on its new so-called cutting edge products that have been "delayed." And upon whom do many of you rely? Some sociopath who calls himself Dr. Iomega. And after KE's debacle, these people have the nerve to complain about the good doctor. Indeed, what kind of company would allow such a character to "help" investors if he were truly an employee? Folks, take a look in the mirror for the biggest chump around. Does IOM have any real brand strength? Yes it's relegated to a bunch of small investors who spend endless time on chat lines hoping to "tough it out by waiting six to eighteen months' for their stock to triple. Well it's nice to have a cult following, but it's going to be awfully difficult to get many funds to buy in now that the stock is priced under ten--another marketing stroke of genius by KE. I can't help but look back at the summer of '96 when Myron Berman was on Squawk Box telling every one who woould listen that IOM would eventually crack. And the repsonse on the chat lines was unanamous was that Berman didn't know what he was talking about. Well, he did. Finally, don't pin a single hope on OEM changes. That will only bring in further competition. "A fool and his money are soon parted", and somebody who believes that toughing it out for eighteen months to have his or her stock triple has no clue.
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