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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (16984)	5/6/2003 8:04:04 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78519

Bob Rudd, Looks like you've closed out at least a couple of successful positions. I was wondering how you might redeploy assets. I've looked at PLCM and your WEBX. To me they're too expensive based on current earnings. OTOH, if these stocks are going to trade on their business model (conference calls reduce travel, or conference calls eliminate SARS concerns for transnational business meetings), then these stocks might have long legs.

To: Bob Rudd who wrote (16984)	5/8/2003 3:25:24 AM
From: mikeslemmer	Read Replies (1) \| Respond to of 78519

Re: WebEx as an investment. I'm currently working with a startup in the Bay Area that is doing a videoconferencing system. Their basic thesis is that companies like WebEx use an outdated video compression scheme. As a consequence, this startup's product has video quality that is so visually superior to WebEx's that any layperson would probably pick theirs over WebEx. (Incidentally, their scheme is patented). Point being that, though I might agree videoconferencing is a good space, you should be concerned about disruptive competitors in this space. WebEx's revenues could dry up pretty quickly if a "clearly better" technology hits the market.

To: Bob Rudd who wrote (16984)	8/27/2003 2:40:33 PM
From: Bob Rudd	Read Replies (1) \| Respond to of 78519

WEBX: Sold today @19 for 82% gain; It popped on inclusion in S&P smallcap 600 which forces indexers to buy it. Since this pop was unrelated to value and it had run up quite a bit since May 6 buy, I took a look...didn't get past the part where the CEO sold 425k shares @ 16.20 on 8/22, his largest sale to date and capping quite the mighty outflow from other insiders, especially the CTO. The SARS thing is over. MSFT's purchase of competitor Placeware will, at some point, bring to fore a significant challenge. Perhaps the CEO and CTO see this and figure to git while the gitten's good. Whatever the reason, if they wanted out 16-17, I'm happy to get 19.