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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: Rob C. who wrote (5698)	12/11/1997 10:41:00 AM
From: Elvis Jones	Respond to of 26039

Westergaard Questions RS Contrarian from westergaard.com Paul Stephens of the Robertson Stephens Contrarian Fund held a 15 minute conference call yesterday where he apologized to investors for the 30% plummet in his fund this year. I attended Paul's presentation at the Contrary Opinion Forum in October which I thought was really quite brilliant in his range of perspective and knowledge. But I did question his short selling strategy which he sloughed off with the response that his "short people" handle that. How short they are, I didn't ask. Reminds me of a sign at the '96 Democratic Convention: "Small Businessmen for Clinton/Gore". I asked: "What are you doing short a stock such as Identix (IDX 10 5/8 AMX)? The company is on a 30%+ annual growth curve, a world leader in a technology which promises to become a linqua franca of the computer industry, is run by quality, honest management, and has only a $250mm market cap." If the IDX short is a proxy for the rest of his short portfolio, no wonder he's down 30%. My rule is never short a stock with less than a $500mm market cap and never short a stock just because you think it's overpriced. If it is overpriced at x and can just as well get overpriced at x+10, x+20, etc. etc.