Well, perhaps he should have had that "fine print" in his analysis, especially since he left no stone unturned about lack of "fine print" in the digitcom releases.
I have seen this over and over with companies that have redefined themselves. For example, I invested in General Magic after it redefined itself from a previous product to their new "Portico" voice recognition cellular product. When I told friends that this was a good investment, they looked at the old filings and financials and thought I was crazy. Well, I was crazy enough to ride it from $2 to $15 once the street found out what I had discovered through a lot of painstaking DD.
DGIV is in a similar situation. If you look at their original filing, you will see a video streaming company. They later focused on voice callback, which is a commodity that is hard to maintain an edge in. Within the last 6 months, though, they moved into the hottest of internet sectors -- international VoIP and got in before anyone else. While competitors were exploiting the US market, with its attendand federal regulations and competition from the AT&T's, DGIV was off striking win-win agreements with international governments and local telcos.
So to look at old filings and financials to indicate where the company is headed is a farce at best, a deliberate attempt to undermine investor confidence at worst.
Why can't people respect our freedom to make our own investment decisions? If we're wrong, we lose our own money. If we're right, we're millionaires in a year or two, maybe a lot sooner. That's the bottom line. |
