Jason,
Several years ago, I heard your exact arguments, or variations thereof, and agree that there is validity to a conservative investing approach. If I had listened, I would be poorer by amounts I never dreamed I would see in my lifetime from a stock investment.
There are no guarantees in life, especially not in stocks (or companies). I, like most on this thread, am not in "love" with WCII; I do very much respect Bill Rouhana's vision and capabilities. He has surrounded himself with extraordinary talent. He has created a concept out of thin air, and has executed masterfully on this concept. You can analyze a-la-Vogel or Cogan or Comfort; that will not significantly alter the implementation of WinStar's plan. They will not run out of money...Bill's too bright to let that happen. They will not dilute beyond reason...again, he's way too bright for that.
So, Jason, we can argue analysis till the moon turns blue. So what. The fundamentals of this company looked great, they look even better, management has lived up to its promises every step of the way. So, either you believe in the concept and the management, as I do, or you don't.
And, Jason, stock prices are also a function of "perception" and the anticipation growth and potential, not strictly ratios. You know that already, if you earn as much in investing as you claim. I am fully convinced that WCII will continue its upward trend, be profitable on schedule, and deliver shareholder value. Don't buy the stock if you feel the way you do about it. It's O.K. to raise issues, but every one you have addressed has already been addressed. So, don't try to convince me that the sky is falling. By the same token, don't try and insult me or others on this thread that our conviction in the concept and the leadership is misguided. Got any NEW, SIGNIFICANT facts (other than what you've already presented)? And what's your agenda, anyway? |
