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Technology Stocks : TouchStone S/W (TSSW) -- Ignore unavailable to you. Want to Upgrade?

To: David Alan Cook who wrote (3146)	3/9/2000 10:52:00 PM
From: David Smith	Read Replies (2) \| Respond to of 3627

Now this thing is an "incubator?" "Touchstone Capital Group"....are you KIDDING me?? As for re-applying for a Nasdaq listing...this is a penny stock, OTC-BB piece of paper. As such, it fits right in with all the thousands of other pieces of paper calling themselves incubators, venture caps, etc, and it is right where is belongs. But I'm sure you'll keep talking about it for the next year or two. "Company needs to get re-listed"..."company needs exposure a listing would give"..."needs to break $3 bid on good volume"...etc etc. I have absolutely no problem with stocks in this price range; in fact, I've made a killing recently on some that got noticed. But a failed, delisted, bulletin board piece of paper that all of a sudden tries to sell itself as the next CMGI with a nice new name after a lengthy, pathetic history gives me the douche chills. It reminds me of a certain politician who won't make a decision until he's taken a poll, then does what's popular. Ludicrous.

To: David Alan Cook who wrote (3146)	3/10/2000 12:48:00 AM
From: jonj1	Read Replies (1) \| Respond to of 3627

David, I'm assuming tssw will no longer have the huge overhead of the technical staff. This alone will dramatically increase the the bottom line. I'm guessing EPS will eclipse $1.00 in the forward four quarters. What kind of value do you think that will shareholders! It's all up from here.

To: David Alan Cook who wrote (3146)	3/13/2000 1:30:00 AM
From: robbie_nw	Read Replies (2) \| Respond to of 3627

David - You refer to TSSW's potential as being equal to 5x NAV based on an incubator business model...and cite ICGE as justification for this valuation. I must ask: Have you done any fundamental analysis of ICGE's valuation? Can you say with a straight face that ICGE is fairly valued? 5x NAV is ludicrous when the ONLY source of income is by trying to increase the NAV through reinvestment. AN incubator is nothing more than a glorified dotcom mutual fund. Should an investor be willing to pay 5x's as much(through the fund) for one of the individual stocks that a Janus fund buys...presumable because Janus fund managers are so astute that the holdings are worth 5x's as much as if they just bought the individual stocks on their own. Of course not...thats ludicrous. By saying that TSSW should sell @ 5x's net asset value as an incubator you are saying that just because TSSW has graced EBLD with its golden touch....TSSW's shares in EBLD should be worth $30 today...while the rest of the world's shares are worth $6. Are we forgetting that it is quite possible that the underlying holdings of an internet incubator are already fully valued...or perhaps even overvalued...since these underlying companies are dotcoms and are usually given the forward looking valuations that assume everything is going to grow exponentially indefinitely. IMHO...ICGE and CMGI are two of the greatest testimonies to a speculative market bubble. 1X NAV assumes that the stock in their underlying (and richly priced) internet companies stay aloft....what happens if reality sets in to this market. This is not to say that TSSW can't be tremendously succesful in their new strategy...but 5X NAV is truly a pipe dream for TSSW imho. If you want $30 a share for your TSSW stock....TSSW's gonna have to have $30 a share NAV imo. FWIW...Heres a link to a Barron's article earlier this year that discusses ICGE's valuation: Message 12508962 ICGE and CMGI surely are prime examples of the potential...but I for one do not expect that these cases of internet mania will be duplicated with TSSW. I would look for continued success from TSSW investments...and translate those investment successes to share value on a 1:1 basis...not 5:1.