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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: Sir Francis Drake who wrote (4330)	12/13/2000 6:29:07 PM
From: Rick	Read Replies (1) \| Respond to of 4467

I agree with Morgan. Seems risky to rely on book value, especially considering it's holdings have probably dropped 50% since the last quarterly snapshot. Hope springs eternal, and my guess is there is still too much hope in this stock. This is what next year looks like in my crystal ball: - More executive departures and shuffling - Selling or shutting down cash flow negative businesses that cannot sustain themselves outside the incubator Overall, I think the company will just get smaller and smaller. At some point bargain hunters might move in as an asset play. But who really wants to buy a pure asset play without some guarantees about how the value will be unlocked ? On the outside chance that IPO mania returns, investors might bid it up.......seems unlikely to me. And I hate to be too harsh on Musser, but his recent mistakes look like the moves of an irresponsible gambler, rather than a wise old Chairman. If a man with his experience and position isn't the voice of reason and conservatism at SFE, you must wonder what other unfortunate decisions he has made that will cost investors down the road. In the end, SFE's assets belong to the shareholders, and I really wonder whether shareholders appreciate loans to his girlfriends ventures. Was this a rational economic decision, or the decision of an overconfident and over-reaching man drunk on the illusion of endless dot com wealth ? Frankly, I think the whole thing is falling apart, but I admit that all of my information comes from the press....so others are much more informed. Contrarianism might work here, but my guess is it's a value trap at best. Rick.