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Technology Stocks : WAVX Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: Wooly who wrote (9020)	9/15/1999 1:54:00 PM
From: B Spears	Respond to of 11417

CLIPS TAKEN FROM CNBC POWERLUNCH METAMARKETS SESSION These are actual clips of the audio transcript of the interview. As you can see Wave Systems was not mentioned but I do not think that this is significant in that Metamarkets was there to discuss Openfund and their new paradigm and not Wave Systems. Cheers Bob Spears Bill: I guess you knew given the state of technology and where it's going that this was going to happen eventually. Bill: It's the first mutual fund to be managed live in real time on the internet. The on-line investing site, metamarkets .Com has launched an interactive mutual fund called openfund. It just began trading on september 1st, and lets shareholders share their investment ideas via the internet with the fund's managers. Joining us now with a look at how it works is donald luskin, the ceo and co-founder of metamarkets .Com.. Bill: Don, good to see you. Thanks for joining us. >> Bill, pleasure to be with you. Bill: I have a million questions. Let me start though with house howe this works i'm mean, you can see the portfolio as it currently exists and you can see the changes as you and your co-managers make changes in the portfolio, right? >> That's right. You can log on to our site anytime. And you can see trades as we make them. You can see the portfolio updated in real time. And you can join our discussion boards and actually interact with us to share investment ideas with us, question us, applaud us, criticize us, communicate with us. Bill: I know plenty of fund managers who just, they don't want to hear it from the shareholders. You know, you're leaving yourself open for lots of e-mails, aren't you, don? >> Well, we sure are the, in fact, if you go to metamarkets .Com and look at our site, you'll see some pretty tart comments we've already received, but that's what happens when you pull back the curtain on a process that's been shrouded in secrecy for hundreds of years. Bill: Which brings up the question, what does the fcc think of all this? What are the regulations on allowing this kind of interactivity and real-time disclosure of a fund's portfolio? >> Well, the securities laws are about anfraud and full disclosure. And you can't disclose anymore fully then we are. Bill: $1,000, We buy directly from you on site? Is that how it works? >> That's right the you just go to the site and download a prospectus and application and away you go. Bill: We're not going to show the whole portfolio the we're showing some of your top holdings right now. Are you a growth fund, a value fund? How do you, you know, describe your investment style? >> We describe ourselves as an aggressive growth fund. We're also careful to describe ourselves in terms of what we're not. We're not an internet fund. We're not a sector fund of any kind. ..... CNBC 9/15/99 - 1:20:31 PM ..... media like you. And opportunities exist for short-term trading that that in the past whole bull-bear cycles took years to play out can happen sometimes ena single day. We want to be part of that, too. Bill: Good luck with the fund. Thanks, donald. >> Thank you. Bill: That was donald luskin, the ceo and co-founder of metamarkets .Com, joining us from san francisco.

To: Wooly who wrote (9020)	9/18/1999 1:54:00 PM
From: 24601	Read Replies (1) \| Respond to of 11417

If guys like TexasDude are wrong, then by how much? market capitalization (assuming deployment) AOL is said to have about 18 million subscribers. AOL has 1.1 billion common shares outstanding. AOL has a market capitalization of $95 billion. Thus, the market capitalizes the value of AOL at more than $5000 per subscriber. What if the market were to capitalize the value of Wave on similar bases? What might we be looking at in 2001? Assume that Wave deploys *only* 18 million WaveEnabled devices. Assume that *only one-fifth* of those devices develop actual Wave users. Assume that the market capitalizes the value of Wave at *only $2000* per actual user. Assume that Wave has issued *all* of its 75 million *authorized* common shares. [current publicly traded float is 34m; fully diluted probably exceeds 40m] On those premises, WAVX would be valued at $96 per share. In my opinion, these are conservative assumptions, and the market will be able to project the validity of such assumptions before they are borne out by real-time events. Best wishes, 24601 members.theglobe.com