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Technology Stocks : George Gilder - Forbes ASAP -- Ignore unavailable to you. Want to Upgrade?

To: Roger Hess who wrote (4218)	5/11/2000 9:24:00 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 5853

The WSJ had an interesting article about the AWE IPO when it came out. Focus was on T's taking the unique step of making the offering open to all employees--and the attendant headaches. This was done partially in response to negative feedback about the LU spinoff, as many T employees resented not having the chance to participate. So for AWE, they went whole hog the other way. With 145,000 employees, many of T's personnel are not very familiar with investing. I went into an ATT Wireless store the day of the IPO, where an enthusiastic cashier informed me that the spinoff [sic] was being done because AWE is the only part of ATT that makes money [sic]. Coming to market at around 70BB with 360MM (??) shares in the float, the AWE offering was obviously not set to catapult. Obvious to anybody familiar with stocks, but probably not to a lot of T employees who were making their first purchase by borrowing $3000 from their credit-card issuer (employee purchases had to be in 100-lots). Gilder should have disclosed his interest in QCOM in his WSJ piece. Even his loyal minions should not try to defend that one.

To: Roger Hess who wrote (4218)	5/11/2000 11:46:00 AM
From: Jordan Levitt	Read Replies (3) \| Respond to of 5853

What I find interesting about George's QCOM holdings are how little he has. Let's say we use a price of $100 ( about right for the date of the WSJ rebuttal. That means(if the article is correct in stating that he has $ 500,000 worth) that he has about 5000 shares. If George buys/holds as he says then we should be able to measure how strongly he believes in his picks. Presumably he made his purchase around the time that Q was added to his list. The newsletter shows a reference date of Sept. 24/'96 and reference price(not split adjusted) of $19 3/8. Since Q has split 8:1 since then, that implies that George bought 625 shares ( If he hasn't sold some). That means his total commitment to his "greatest" pick was around $12,000. There is no rule that says he has to buy into his own advice...it's just that it is something that I like to see when someone tells me where to put my money.