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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: EnricoPalazzo who wrote (40560)	3/18/2001 11:17:30 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 54805

Ethan, [Tom Siebel] has the sort of against-the-grain common sense that makes you want to weep. Consistent with that thought, Siebel Systems never used a penny of venture capitalists' funds. The company lived entirely on the insiders' invested capital and internal cash flow until it went public. When it did go public, the company was profitable and has been ever since. And if I remember correctly, there has been no public or private offering of common stock other than the IPO and the debt offering that is convertible. All of that goes against the grain of how to run a company these days. --Mike Buckley