Ampex Corp: Digital Storage Message Board

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Technology Stocks : Ampex Corp: Digital Storage

AMPX 10.01

+5.6%

Jan 12 3:59 PM EST

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To: Andrew Q. Viet who wrote (1314)	1/19/1997 4:08:00 PM
From: Gus	of 3256

Interesting. There are at least 2 accounts of people dumping their AXC shares soon after the Maxtor deal was announced. One sold because he was generally disappointed with the behavior of the stock price after 12/23/97 and because he was getting cold-called by some obscure East Coast bucket shops touting AXC. In your case Andrew, you sold your shares because, for some strange reason, you decided to focus on the low level of back-orders disclosed in the latest SEC filings (but which Steve indicated has been disclosed as early as the 3rd 10Q) as an indicator of poor quarters ahead putting your investment at risk and at the same time creating an opportunity for you to time your re-entry point sometime during the 2nd half of 1997, in line with your seemingly recent conclusion (a telling sign of unrealistic expectations) that KM is a 1998 story, earnings-wise. I pose this question then: should you really base your decisions on the behavior of the stock price since 12/23 especially since the trading has been marked by generally anemic volumes that indicate a "temporary" market of mostly weak buyers and sellers without convictions (exhibits A and B above). In the year and a half that I have owned Ampex, I have observed that this particular issue has a noticeable lag between the upward movement in its price (after taking out the distortions of the July run-up) and the genuine improvements in its fundamental picture. You would think that after increasing 5x in the last two years, people would be hip to this fact already. Apparently not. Until it no longer works, I am going to discount the gyrations in stock price and carefully watch the improving fundamental picture of this company. It is so easy to outsmart yourself if you don't pay close attention.

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