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Microcap & Penny Stocks : WCAP - Winfield Capital: Insider buying -- Ignore unavailable to you. Want to Upgrade?

To: Top Jim who wrote (1062)	6/10/1999 8:50:00 AM
From: Bob Trocchi	Read Replies (1) \| Respond to of 1305

Top Jim/ Marconi Re: CMGI You two seem to both be interested in CMGI. In todays Boston Globe, there is an interesting article which goes into a lot of detail about CMGI. I simply felt that both of you might be interested in it. By the way, if you want to read the article, do it today as I think the Globe after one or maybe two days then charges you for back articles. Bob T. BOSTON CAPITAL Despite market cooling, CMGI still optimistic Andover firm's access to cash, skill at picking Net prospects keep investors enthusiastic By Steven Syre and Charles Stein, Globe Staff , 06/10/99 boston.com

To: Top Jim who wrote (1062)	6/10/1999 11:18:00 AM
From: Marconi	Respond to of 1305

Hello Top Jim: Thank you for your thoughts. If WCAP is a public VC and expects far above market returns, why not go private and garner that to oneself? Why not sell off the 'old' core business of being the front office for making government backed loans to small businesses and administering them. The ROR on that is very marginal. I think my views are flavored with the assumptions WCAP is still a bump on the feds sprinkling our tax dollars on small businesses and that there is nothing special or compelling in WCAP's management to continue to obtain sweet deals on the internet mania. Otherwise, I would think they would want to free up capital by selling the older flyers like COOL and plumping the money into soon to come IPO's for the typical 10-fold+ gain on capital that seems to be more than regularly achieved in the internet IPO sector in the last year+. Why not enhance the money machine? Why trickle along as is? These sentiments lead me to put stock in the notion WCAP is more of a closed end fund at a relatively enormous price/asset ratio rather than the usual discount. I do not believe the 3 guys running the business are particularly astute at deals, or they would change their stripes significantly from the windfalls that have fallen into their laps for the time being, going private or dumping the marginal fed loan business. There have been a handful of money managers who have shown 100+% returns year over year for some spell. Ultimately though, they hit a hard corner and the luster goes off their methods. I am referring only to legitimate investment managers, not the crooks. I still have the notion WCAP management is largely plain vanilla. I don't personally know the fellows either. They are in a sweetheart position for themselves at this time. But major changes should be immediately in order if they are going to be anything else than plain vanilla. I plan to continue to trade WCAP as if it were an overprice closed end fund with the expectation it should be in the mid single digits for the time being. Volumes have been treacherously low since the highs, so it could be more volatile as a result. This implies a smaller percent of total assets would be prudent, but with richer trading opportunities. Best regards, m