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Technology Stocks : BroadVision (BVSN)
BVSN 4.410-0.5%May 18 5:00 PM EST

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To: David R. Doerr who wrote (712)9/26/1998 8:41:00 AM
From: Edward F. Horst Jr.  Read Replies (2) of 3773
 
And believe me, I'm not trying to convince you. I have followed BVSN for nearly two years, watched their progress and visited the company. I also posted recently when the stock backed off to the high teens, for investors to realize that this is a small emerging company with a high P/S multiple. The negative report spooked the momentum players who pay high multiples for new leadership type companies, eg. Internet stocks. The CEO has had previous success building a company and is a brilliant visionary and tireless worker, IMO. They have accomplished much, developed excellent relationships and met their targets. If CEO says everything is "business as usual and the quarter is fine", I believe him. The money managers have reacted to this report, as the sell off was immediate. They don't know anything else, in most cases, except what they read. The volume is simply the herd instinct at work. I'm a long term investor and am happy to be able to buy more at these levels. That's what makes a market! Cheers.
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