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

To: Ron who wrote (1103)	9/23/1999 11:48:00 AM
From: Marconi	Respond to of 1305

Hello Ron: From what I have seen in the news releases, WCAP is adding cents to the equity base in these deals, not dollars. To justify current market cap, WCAP would have to add about $15 in deals. Such miraculous participation is very unlikely. There are other gigabuck houses that grandly dwarf Winfield's tiny capital base. The gigabuck houses are trafficking in the cream of the IPO Internet mania. To me it looks like Winfield cannot even obtain crumbs from the gigabuck table, but scrapes for minor pieces of lesser IPO candidates and obtains them infrequently. Hardly a growth phenomenon forward IMO.... Without the Internet IPO mania, WCAP never would have come to attention, but would have remained nominally a $1/sh stock, and probably would not have reorganized from an administrator of federal small business loans into a closed end investment company. The reorganization made sense because 99% of the assets are converted holding of IPO stock from loans, not the loan business. But Winfield has been unable to muster any significant traffic in lucrative IPO's. They seem to have about the same prospects at it as any small investor...it won't be our stock and trade any time soon while it remains amazingly lucrative, nor Winfield's so far. Best regards, m