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Technology Stocks : Documentum (DCTM) Software

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To: Hewson who wrote (332)	8/13/1998 6:21:00 PM
From: Tokyo VD	Read Replies (1) of 600

Hewson, You shouldn't believe everything you read. Schaff has said he buys stocks that are "down", but he bought AFCI when it got cut in half (between $21-25) because it was a "mo" stock that didn't meet expecations. Now, the mgmt has said that things are worse than they thought and it is trading at $11 7/8 (so much for his "good" research). As for DCTM, Schaff has been buying the stock all the way down from its recent high (hardly a "value investor"). Frankly DCTM was a "mo" stock that had its EPS cut by its investment bankers (which means that "mo" funds start selling). That is not a good sign regardless of what analyst at Robertson or mutual fund says. So, Schaff's been buying stock on the way down ("catching the falling knife") to average down his costs. Unfortunately, I'm not impressed with Mr. Schaff's investment strategy, nor his research. Good luck with your investments. Tokyo

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