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Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: pcstel who wrote (1506)	2/22/2002 8:04:35 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 2737

we un-delisted all of the NASDAQ dot.bomb and other tech companies that have gone BK in the last 2 years, and assigned them the share price on the Pink Sheets and we were using price-weighted averaging like the DOW i don't really know how that would work out, but keep in mind that many of these stocks got delisted because they were trading under a dollar already (i believe the Naz has a rule that an index stock can't trade under $1 for some period like 30 days; if it does, it gets delisted), so they probably wouldn't have that much downside left and would already have "done their damage" to the index. the DOW index's mindshare notwithstanding, it is not the key index most professional investors care about (partly because of its funky price-weighted basis [which is a function of its being such an old index, from the days where they had to calculate the thing by hand], and partly because it only contains 30 stocks [another function of its age]); rather, the index institutional investors care about most is the S&P500, which happens to be cap-weighted like the Nasdaq. the broadest index, also cap-weighted, is the Wilshire 5000, which despite its name contains about 7000 US stocks. i think a comparison of the COMPX with the SPX or the Wilshire 5K is pretty apples to apples.

To: pcstel who wrote (1506)	2/22/2002 8:10:29 PM
From: Wyätt Gwyön	Respond to of 2737

also, i don't think it would be valid (i.e., create an "apples to apples" comparison) to price-weight the Naz. reason being: the DOW stocks are all hand-selected to be major companies "of a certain size", so they all have pretty hefty market caps to begin with. but if you price weighted the COMPX, you would have a co like MSFT, with a 314BB market cap, weighted on an equal basis with stocks worth only a few million. there is no disparity even close to that in the DOW. (i keep wanting to write DOWn, which i will nickname it once (if) it breaks.)

To: pcstel who wrote (1506)	2/23/2002 7:08:27 PM
From: Blaine K	Read Replies (1) \| Respond to of 2737

pcstel, Prepare for some unctuous flattery! I am a long time lurker [mostly] from G. I was a true believer, and always thought there were reasonable alternatives to your predicition of G's demise. I ,and most, were wrong, while you were quite close to the mark. I've been checking out this board because of the LWIN price drop, since I smelled opportunity, and find many of my old familiar friends here. Your description of malign sellers may well be true, but you expressed a concern that such sellers can destroy the company. I would have thought that with enough cash on hand, that you would view these people as supplying you with an opportunity to load up cheap. Are you buying or considering buying at these levels or at any other level, or are you watching because a very low share price would, in some way, strangle the company? With the success I'm seeing in their business plan, I wouldn't think an ARTIFICIALLY low stock price would kill them, but I would value your thoughts on the matter. BlaineK