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To: Mama Bear who wrote (4034)	12/9/1997 8:38:00 PM
From: Bill Harmond	Respond to of 27307

>>And it was there that I learned the lesson that you are preparing to learn. I thought Peter and I were unprepared. Naked. Vulnerable. Wrong. Reckless. Foolish. Blind to the facts....

To: Mama Bear who wrote (4034)	12/9/1997 9:23:00 PM
From: Bill Wexler	Read Replies (1) \| Respond to of 27307

<a bit OT> Iomega was one of my best short plays. During the "Iomania" spring of 1996, I started shorting it in the low 30s all the way up to the low 50s. Covered a bit too early though at 17 and change. I remember going through these exact same valuation arguments with friends who were buying Iomega. One of them had the misfortune of buying 2500 shares on margin at 50. I keep hearing people saying that overvaluation is the worst reason to short a stock. In my personal experience it has always been a sure bet...even with great growth stories such as Netscape and Iomega. When investors start paying WAY too much for past earnings hoping for companies to grow into their extreme present valuations, it usually makes for a good intermediate-term short.