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Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: Ken Hays who wrote (1024)	12/23/1997 10:22:00 PM
From: Shege Dambanza	Read Replies (1) \| Respond to of 6974

...If I was an insider and I thought the stock was going to keep going up ( I knew the next quarter or next years earnings were going to be sustained) , I wouldn't be selling!... And what if you needed the money to buy a house, or a car, or something for Christmas? Would you take out a loan, and use the stock (options) as collateral? Many people in high-tech startups take a significant portion of compensation in the form of options. It's not unreasonable to expect people to exercise some options as they vest so that they can realize some gains. It's the American way, dammit! And it is what makes Silicon Valley work.

To: Ken Hays who wrote (1024)	12/24/1997 12:13:00 AM
From: Marc Hyman	Respond to of 6974

If I was an insider and I thought the stock was going to keep going up ( I knew the next quarter or next years earnings were going to be sustained), I wouldn't be selling! Then you would be very unusual. Many people who belong to a successful startup go to financial advisers as soon as realize that their stock and/or stock options are worth significan amounts. The advice these people will get is to diversify, diversify, diversify. They'll get sick if hearing about eggs and baskets. After all, there is NEVER a guarantee that things will keep going up, regardless of next quarters sales. What some will do is plan on selling a fixed percentage of their holdings every month or quarter, regardless of the price of the stock. Many others will sell stock for a new house, the Mercedes they always wanted, etc. When you've been working your but off at a place for 4 years and you make it bigger than you ever dreamed you would, you want your toys NOW, not later. I saw this first hand at another startup. I don't expect SEBL's employees to be any different. // marc

To: Ken Hays who wrote (1024)	12/24/1997 8:59:00 AM
From: Voomp	Read Replies (1) \| Respond to of 6974

Oh, please a cashing in on a little profit won't hurt anything, considering the tremendous run Siebel has already had. I would have probably done the same if I got in on the IPO value (in the teens?)