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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: carepedeum2000 who wrote (44572)	1/3/2001 3:15:42 AM
From: Wendisman	Respond to of 57584

Carpe....on ADAP....there is a large part of me that refuses to ever touch ADAP again....thankfully, I took my licks with it on the last trading day of 2000 and sold my holdings for the tax loss....also, thankfully, I went heavy into WMUX in the high 5's, so that helped to offset the bruises. I am a firm believer in WMUX, but if they continue the ADAP deal, they had better steal the company for its cash and raw technology....obviously, reprice the deal in a big way. Look at the way investors reacted to possibility of a WMUX pullout! Shows why ADAP never came close to tracking the 1.345 conversion price. My worry is that ADAP's management is/was going to be integrated into the joined companies, and ADAP's management is some of the worst I have seen....lies, "delayed" orders, delayed payments....whenever I spoke with Stephanie at IR, she was all roses and whiskers on kittens and sunshiny days....by the time ADAP comes through with the promises they've made, their tech will be outdated. WMUX will remain a core hold for me just as long as they either heavily reprice the ADAP deal or pull out of the deal entirely. I can't see them doing anything else (which scares me). We all know about book value....there should be an equation that divides the book value by the quality of the management....if this were possible, ADAP would be worth about a buck. Yeah, ADAP's worth a dcb....but one of my new year's resolutions is to trade smart and find good solid longs....ADAP is not one of them. I'm taking my chances early in the year on WMUX,ITRU,INSP,SBLU,ISLD....looking for others. Wes