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Technology Stocks : Open Text

OTEX 32.86

-2.4%

3:59 PM EST

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To: Michael Burry who wrote (96)	12/16/1996 10:23:00 AM
From: Tyler Lawton	of 1195

There is so much positive for OpenText, I think it is a buying opportunity if you are looking 3 to 6 months ahead. Short term, it seems to have some good momentum and fund managers like to invest in small cap stocks this time of year. They just released their new software which puts them way ahead of the competition. Their software is setting the standards for others to meet. I hear a lot of interested customers are calling QUALCOMM to see how we like Livelink, which supports the up trend in press releases about new customers. I would think more companies like Siemens will be partnering with OpenText since Livelink fits well into a systems integration package. They have suffered through the problems of a rushed IPO this year and now have enough employees to run the company the right way. They now have good management in place that is making a difference. (I think their Public Relations department is still pretty weak. Getting rid of those guys should be worth two points alone!) Intranet software is growing at an unbelievable pace, millions of dollars in sales this year to billions next year. '97 is the year of the Intranet and OpenText is "The Intranet Company". Investor's are finally understanding that OpenText is not another search engine company selling ad space on their web page to make money. They can now put a proper value on the company. Basically, it looks extremely positive next year and that seems to be the tone of the people that work there.

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