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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: CanStocks who wrote (9064)	2/5/2002 8:55:58 AM
From: Oeconomicus	Respond to of 11568

I wouldn't say "always". I've been following both for several years, buying and selling MSPG in '97, trading a few posts with the ELNK CEO right here on SI (and privately, but a long, long time ago) and tinkering with WCOM back during the MCIC merger. I stayed out of ELNK for a long time over valuation and uncertainty over how broadband would play out. WCOM also got too rich for a while and then just fell off my radar. Didn't own either again until I started buying ELNK in the early fall of 2000 and then WCOM about ten months ago. Bought much more of both since then and sold a little ELNK along the way. Only recent buy in these two was to add back some ELNK at 9.25. Hadn't bought any WCOM since last June because the outlook for growth and profits was far from clear enough to justify adding in the mid-teens where it traded for so long. More recently, the market hammering of WCOM has been so fast and furious that I've held off in spite of the ridiculous overreaction and very low valuation. You see, I moved too fast with my first few buys of MIR and thought I'd give the market a little longer to beat on WCOM after the first three rumors last week, even though I had no doubt they were total BS. The Ebbers margin issue, BTW, was a big enough question mark to cause me to hold off again and my initial reaction was much like Rob's - disgust. Now, however, I think the market has way overreacted and I'm considering buying some today. I'm torn between more WCOM and more MIR - I'm sure this storm will blow over and both will rebound sharply, but not sure which is likely to do so faster. Both, BTW, are currently valued (enterprise value, that is) at about 6-7 times EBITDA. Bob