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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Steve Fancy who wrote (8024)2/18/1997 9:17:00 AM
From: Gerald M. Gualano   of 42771
 
Steve-- I believe you have captured the frustration most of us feel
about NOVL's performance over the past few years. I too believed it
was a slam dunk to invest in this company since I believed it had all the
assets necessary to produce an excellent investment return. What I didn't
anticipate was the management actions which have created this mess.

My biggest concern is what happens when the stock market experiences
a severe correction. Will there then be a leveraged buy back at substantially
lower levels?

I owned 6500 shares at one time and have reduced my suffering to 3500
at present. I hesitated to commit to voting these with CALpers since
I didn't know if I wanted to own them after the earnings announcement
next week. However, this situation is so maddening that I've decided to
do what I never do, which is to become emotionally connected to NOVL
and as such I will hold a position until this matter is resolved, or
until someone is held accountable.

Since you responed to Scott's questions from the perspective of a
frustrated shareholder, I believe it is only fair to ask Scott to comment
on your response.

Scott--Since I assume you own stock in NOVL, do you have any insight into
what Steve has said. We don't expect you to do the job of investor
relations, but a response from a NOVL employee would be helpful( I recognize
you might have to say something negative about NOVL management, but since
you raised some very good questions and Steve's response seems to
summarize this thread, we would appreciate hearing from you)

Thanks
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