Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 216.57

+5.9%

Nov 17 3:59 PM EST

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To: Finder who wrote (35667)	2/21/1998 10:19:00 AM
From: blankmind	Read Replies (5) of 61433

from baron's Q: What else are you short? McCain: We have been short Ascend Communications since last March, so it's been a good short for us. But it's starting to rally pretty fiercely -- even though it still ranks pretty high on the short side. Sanders: It sure does. It's one of our top-ranking shorts -- meaning most expensive, trading at 7.2 times book value. McCain: Not to mention it's 5.5 times revenues, 43 times cash flow. Sanders: There are lots of people in the communication business and there are lots of products. When one company is making a lot of money, that just gives someone else an incentive to come up with even better products. Ascend is not necessarily in a sustainable position. McCain: One of the marvels of capitalism is that high growth rates attract a lot of bright, serious competitors. And the market does mark these stocks down-eventually.

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