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Technology Stocks : Netscape -- Giant Killer or Flash in the Pan?
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To: Larry S. who wrote (3953)8/4/1998 10:48:00 AM
From: Marconi  Read Replies (1) of 4903
 
Hello Mr. Shapiro:

Intrinisic value? I don't get it and I am skeptical. Please put a dollar amount on your perception of intrinsic value in NSCP.

I add NSCP's oft-vaunted management seems more often to lack a basic grasp of business and have made several blunders. I am somewhat biased for NSCP, having spent money to deliberately subsidize them to further their resistance to Microsoft's advances. However they allowed a dominant market share (admittedly unprofitable) in browser software to go through their fingers. Normally management is expected to strengthen their strengths and shore up their weaknesses. Surely, early on, Microsofts' interloping should have been dealt with more appropriately.

Now, NSCP confuses me --they seem to be more interested in finding the popular identities to continue to raise public funds. NSCP's primary business is raising money, not running a going concern; hustling scrip is not a long term proposition. I suspect a share price in the teens are more likely to be over their shoulder in the near term confusion of what business(es) they are entering, than continued speculation into the 40's. There needs to be an enormous sloshing of around of money in the markets with little thought as to where to put it to fuel a price in the 40's.

I think it prudent to sell NSCP, AOL, YHOO on relief rallies short term. You will be able to buy in again at a lower price. Better to ride the direction the economics take a firm, than counting on continued contrary economic stock price effects.

Best regards,
m
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