To: Dr. Bob who wrote (1503 ) 12/18/1997 1:58:00 AM From: Mark Cox Read Replies (2) | Respond to of 3347
Dr Bob, I'm with you but more so. Having met some management a couple of times and listened to thier enthusiasm (for such it is) and sincerity (yes), they are long for the reason of being involved in what they believe to be a really great idea which has a great chance of actually taking off. I think short positions would be mixed with such a great degree of cynicism, given the amount of engineers laboring over the project, given thier own long positions (hardly dented by a mere 1.5 million short), given the arduous effort which has been frustrated by delays and yet is making progress slowly, given the backgrounds of board members, it all appears too much. Take any bit on its own and they might be conspiring to fool us but when the whole picture is taken into account its a not credible that management have anything to do with shorts. If you owned several million shares why would you sell some short. You'd have to borrow them from somewhere and the gains which are temporarily in the market now, would be offset enormously by the losses on the long position. while its not impossible,the idea of management being shorts stems from an incomplete understanding. Even if they wanted to look politically correct to the shareholders by holding on to long positions openly (frustrating when the only insider action is buying of only 400 shares) they'd only be shooting themselves in the foot to have shorted a distributed 1.5 million shares. AND the shareholders might find out that they had done this. If anyone could explain why they could be short and hold large long positions too, I'd be glad to hear it. They are not. Traders, market makers and other active investors are shorts, but not management. Parx