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Biotech / Medical : WAND (Milestone Scientific)
MS 164.44-0.5%3:10 PM EST
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To: Mason Barge who wrote (588)6/9/1998 7:35:00 PM
From: Jeff Tribble  Read Replies (2) of 717
 
Mason,

I'm sorry about your losses in Milestone. An important part of investing is analyzing your mistakes, identifying what went wrong and trying to avoid similar errors in the future. If you go back and read reply 319 where I posted my concerns about the company you will get a little insight into my investment due diligence. When investing in a small company the most important thing to consider is the integrity of management. Of the items I listed in reply 319, the main item that led me to short Milestone was the offshore private placement they did at $6 with GKN Securities. That private placement alerted me to the fact that management didn't have the common shareholders interest as a priority. Sure enough, as the story has unfolded Leonard Osser has a checkered past and stock has suffered the fate I predicted. It has been my experience that the best way to consistently make money in the stock market is to buy established companies that stumble and see their stock price decline. An current example of this would be Applied Materials (AMAT). The Asian Flu has hit them rather hard and their share price has declined approx 50%. They are the leader in their industry and when the demand for semiconductor equipment picks back up they are positioned to grow at a rate higher than the industry they dominate. Again, I'm sorry Milestone has been a learning experience for you, but hopefully this experience will be beneficial to your future decision making.

Good Luck
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