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: DD™ who wrote (1093)	2/11/1998 2:38:00 PM
From: uu	Read Replies (1) of 1936

DD: > The market can be very cruel and painful much of the time. You can say that agin! On May 4, 1994 I bought 4000 shares of SPNSF at $8.5 (after having bought a bunch more at $14.5, $12.5, and $11.25). The next day, May 5th, 1994, my wife and I were going on a month vacation to Italy, Greece and Switzerland. It was 6:AM in the mroning when my uncle (who had also bought the shares of SPNSF) called and told me of then Sapiens earnings result! The stock opened at $4.5 and closed at $4 and come change! I do not think I can ever forget that month of vacation which was anything but vacation!! Not only I was worrying about my own investment I was also worrying about my career with the company as exactly what the heck was happening with the company (At the time I was a Sr. R&D engineer with SmartStar corporation - the company Sapiens bought 8 months earlier in 93). And on top of that I had my wife telling me I should have listened to her and not bought any more shares of SPNSF at $8.5 (which she had advised me against buying just the day before)!! And on top of that I felt responsible for my uncle's investment also (after all he had asked me about the company and I had told him everything seemed fine where I worked, and when he asked me if I thought he should invest I said I did not know, maybe it would not be a bad idea!!). Anyway, we came back from the vacation and went back to work. After talking to the management I was comforted with the fact that management knew of the problems and were trying to find a way to fix it. And for months later on a rainy and gloomy day in Santa Barbara the stock went to 50 cents/shr after the comapny announced of their restatement of earnings! Well, it is needless to say how I felt! The next day management (Ron Zuckerman and Shai Sole) sent out messages and gave everyone the confidence that the company is solid and they had just run into some problems which were all under control. For the next year or so the stock moved up to the $1-$2 range while practically every single stock in the entire world was going up and up and up! It was painful to see SPNSF at $1-$2/shr! But I was confident of the management and based on that I averaged down (but not until the stock had gone to $2 7/8-$3 a year and half later in late 95-96). And I know this is a solid company that will pay my patience and agony in big way very soon. So to expand on your comment, yes indeed the market can be very cruel and painful much of the time, but with a bull market like we are having it always provides you a window of an opportunity to take advantage of which will make you forget all about its cruelty and pain it gave you earlier! Sorry for this being a bit longer than I had wanted but when I read you comment regarding market's cruelty I could not help it! Regards, Addi Jamshidi

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