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Technology Stocks : Thrustmaster (NASDAQ:TMSR) -- Ignore unavailable to you. Want to Upgrade?

To: Paul W who wrote (1303)	3/12/1998 9:57:00 AM
From: Robert G. Harrell	Respond to of 2443

Paul, Brady does make some good points. The management actually answers to the board and the board (in theory) answers to the shareholders. I came into this stock with my eyes open to the questionable backgrounds, practices, relationships, etc. of the board and management. They were well documented on this thread and raised real questions in my mind. I actually, and probably smartly, passed on this stock the first time I looked at it because of the options repricing and other stuff. I bought this as a pure crap shoot and have no one to blame if I lose money. Having said that, let me postulate a defense of the management based on my experience with MRV Communications, another David in a sea of Goliaths. Sometimes the best thing a small lean company can do is keep a low profile and stick to the business of growing sales and profits. They don't want to unnecessarily draw the attention of the giants. A string of impressive quarters will eventually bring a good stock price just maybe not on our ideal time schedule. The MRVC shareholders have screamed bloody murder about confusing company names, lack of communications about what is going on, poorly handled conference calls, a botched secondary which killed the stock price, and on and on while the management has quietly run a very lean growth machine stringing together 32 consecutive quarters of double digit growth. Every time the stock has dropped dramatically, I've bought more. This last earnings release was truly impressive with one hitch, much higher inventories. I thought the company gave a very adequate explanation in the conference call but the market shot first and asked questions later and apparently didn't understand the answer. Instead of the spike up I was expecting, the stock dropped. I sold off a marginal performer so I could buy more MRVC because eventually the truth will win out in the market. Meanwhile people are moaning and groaning about the CEO's poor communication skills, even though IBD regularly uses him in their ads on CNBC. The company is way to lean to have people with time to worry about stroking stock holders. I hope this is what is happening with TMSR although I admittedly don't have the same confidence here as I do with MRVC. Meanwhile here are some new? earnings updates from my Zacks overnight. Sorry if this is old news. I don't remember it being posted. TMSR: BLACK & CO. has reiterated estimate for long term EPS growth of 24.00% per year on 02/28/98 TMSR: BLACK & CO. made new estimate for fiscal year ending 12/99 of $1.21 on 02/28/98 TMSR: CRUTTENDEN & CO has reiterated estimate for fiscal year ending 12/98 of $0.85 on 02/11/98 TMSR: CRUTTENDEN & CO has reiterated estimate for quarter ending 03/98 of $0.07 on 02/11/98 TMSR: CRUTTENDEN & CO made new estimate for fiscal year ending 12/99 of $1.05 on 02/11/98 Finally, OFF TOPIC, if you want a good small cap play, look at my post today on the Mod Tech board and do the math of appropriate P/E x EPS. Hope today is better than yesterday. THQI is my largest holding. Bob