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Technology Stocks : Cheyenne Software - Will it be bought by Computer Assoc.?
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To: Jerry J. Kaczur who wrote (61)4/17/1996 2:20:00 AM
From: Stephen J. Johandes III   of 130
 
Well, I'm still in. My theory is the following:

1) I own at 16 which represents a cheap valuation so the downside risk for the stock falling back below this level is minimal
2) The only reason I got in at 16 was the fact that the street has as ususual overreacted to an earnings shortfall which has yet to be announced (and could prove more favorable than anticipated)
3) The stock is still a fundamental deal relative to its peers at 21 or 22
4) I run my company with their backup software and if you read the reviews it is the best stuff out there (see information week a couple weeks back if you disagree)

Finally, being an officer of my own company, these rejection decisions are very risky to the board members and hence I find it hard to believe that this decision was not thought through given the risk of shareholder litigation.

-Steve
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