CDMA, Globalstar versus Iridium, Inmarsat, etc. Message Board

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Technology Stocks : CDMA, Globalstar versus Iridium, Inmarsat, etc.

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To: Don Limb who wrote (24)	5/1/1996 3:30:00 PM
From: Maurice Winn	of 381

Don, I'm copying my note from Loral thread too. People will need to follow both. I'll try to keep this one covering GSTRF. GSTRF is just a piece of paper in Bermuda which Loral manages. Qcom seems a better bet now than GSTRF because there is such a mass of mournful morale in the investment community for Qcom that the price is still puddling around where it was 3 years ago. GSTRF has had a big rise [from $12 when I bought, heh! heh!] to $50 with no profits to come for another 4 years. Qcom should be in serious profit next year [more pie in the sky "they" will say] as sales continue to climb. I haven't analysed Loral at all, but have sufficient confidence for them to run GSTRF on my behalf, despite it not being a strictly objective relationship - they have a built in conflict of interest; they own all of Loral and only 37% of GSTRF, so to maximize Loral's profit, they could minimize GSTRF's. I imagine that Loral Space will use the $700m cash to buy a bigger stake in Globalstar LP [or maybe GSTRF]. They will be doing more launching after the first wave proves enormously successful [my guess] so that will need lots of money, largely funded from profit. Yes, things are good down here, but I find this web business has pounded my brain a lot. Too much information to come to grips with. Wet down here. And cold! We don't have mad cows here either. Milking sheep at 4am makes us a bit mad though. My theory on investment is that cow chasing, car building, oil drilling etc are all the foundation for the next wave of technological development where the big money will be made [and lost for those who climb the wrong tree]. The big money has always been to the adventurers, and stolid suppressed comfort to those who stayed at home. It used to be opening up the west and Texas where the money was. Now it's opening up space and linking the world. All aboard! So no, I don't think you'll make a fortune from calves, but it will fund the real profit centres [assuming you have more than a couple of them on a hobby farm]. Maurice

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