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Technology Stocks : Hummingbird Comm. (HUMC)

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To: Paul Loucks who wrote (1578)4/29/1998 3:48:00 PM
From: andrew   of 2018
 
Paul,
While I agree with you on points 1) & 4), I'm not
sure I understand your argument in point 2). Are
you implying that the owners equity & the future
cash flow will not generate a compounded R.O.E.
over the next 5 years (and further into the future).
I think you should be looking at the connectivity business
as providing the seeds of growth into other areas.
Thanks very much for your past conributions and good
luck.
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