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Biotech / Medical : Summit Technology (BEAM)

BEAM 31.20

-2.7%

Jan 16 3:59 PM EST

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To: WHL who wrote (988)	7/15/1998 11:01:00 PM
From: pappy	Read Replies (2) of 1386

I stole this from the Yahoo line but I believe this individual is so "dead on'", it forces me to spread it around. For those that have already seen it-just disregard or re-familiarize yourself with it...to me its a powerful message...Pappy ------------------------------------------------------------------------------------------------------------- Agree with the bullish sentiment in the last two posts. I'm a finance guy in the medical tech industry ... my view of BEAM as a fundamentals, contrarian investor follows: 1. potential explosive growth in the sector ... lots of near-sighted people fed up with the inconvenience of contacts/specs. ... everyone I know having the procedure has had their expectations exceeded. 2. everyone seems to agree two companies ... BEAM and VISX are way ahead of the pack. Is their not room for two or three successful companies in this business?? 3. don't rag on about the poor management folks ... it is 75% replaced (including two most important CEO & CFO) in the last year. Are we using the windshield or REAR-VIEW mirror in driving our investment decisions? 4. litigation and regulatory matters are settle ... legal expense faucet goes from an endless gush to a trickle. 5. even if their technology is second to VISX at the moment ... they will catch up and surpass. In medical device businesses (certainly in imaging devices) companies take turns over the years in being at the top of the technology heap. 6. lots of cash to fund programs of all kinds in marketing, technology development / acquisition, ... hell maybe even shareholder relations. I took too much time to write this note, I would like to add to my 15,000 share position .... but the markets have closed for the day.

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