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Technology Stocks : Winstar Comm. (WCII)
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To: Kenneth Goodman who wrote (5504)4/27/1998 12:24:00 PM
From: Steven Bowen  Read Replies (3) of 12468
 
Hi Ken, welcome.

I think everyone agrees with you about the need to examine the bear case. Unfortunately what we've received here doesn't amount to one.

"However, that doesn't mean that some institutions and hedge funds aren't using the same though process to decide on taking a long or short position."

I guarantee you that institutions use exactly Jason's arguements as reasons not to buy WinStar. But that doesn't make it a bear case, it's just riskier than most funds can tolerate. I'd give Jason that all his points make WinStar a risky stock. As long as he realizes the risk-reward relationship, and realizes that everyone here has examined the risk, is comfortable with the risk, and expects to be well rewarded for our risks. If I didn't like the high risk, I'd buy Worldcom and take 25 - 50% a year. I like making several times my money a year, and therefore am willing to take more risk. I hope Jason realizes that just because it's a risky stock doesn't mean it won't be very successful. Maybe Jason can't handle risk and doesn't sleep well at night with a stock like WinStar in his portfolio. If so, that's a good enough reason for him to not buy WinStar. Of course if he couldn't sleep being long WinStar, how the heck would you ever sleep being short WinStar. That's more risk than even I could handle.
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