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

To: Paul Senior who wrote (17000)	5/7/2003 11:05:28 AM
From: Wallace Rivers	Read Replies (1) \| Respond to of 78523

FWIW, Paul, and I know virtually nil about PLCM, its products or financials, Raymond James had a comment today on the co., feeling that MSFT may have a product which would make PLCM product or products obsolete. Maintain underperform. Just a heads up, and this may already be in the stock.

To: Paul Senior who wrote (17000)	5/7/2003 11:25:32 AM
From: Bob Rudd	Respond to of 78523

Paul re: PLCM The cash confused me too...It's not all where you usually find it. You have to add Long-term investments 338,858,000. The long-term stuff has a bit longer maturity, but it's still cash. From the recent 10-K: Short-term and long-term investments consisted primarily of U.S. government securities, state and local government securities and corporate debt and equity securities of which $0.4 million was invested in equity securities of publicly traded companies" Since they have a lot of cash, they go longer to increase return. On revisiting if it hits 8-9: Naturally I hope that doesn't happen, but that's how I'd play it, too...being congenitally opposed to chasing them once they've left the barn. OTOH, if they do retrace to that area, I may be a seller since that would probably indicate the SARS situation hasn't generated enough interest to ignite growth. If neither terrorism nor threats of a pandemic can jumpstart VC, my thesis will have been proven wrong.