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Technology Stocks : CheckFree (CKFR) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Gintel who wrote (3085)	4/1/1998 7:45:00 PM
From: pat mudge	Read Replies (2) \| Respond to of 8545

Robert -- This is the day we knew would come and I think we all deserve accolades for patience and tenacity. It's been hard to watch Internet stocks soar while ours languished in unwarranted disgrace. With today's news --- and what AB says is coming --- it's a new beginning. If you need a way to celebrate, go see Man in the Iron Mask. It's right up there with Henry the Fifth for camaraderie and courage and honor. "One for all, and all for one!" When John Malkovich as Athos gives his reasons for wanting Philippe to become king, you'll respond with an affirming, "Yes!" Happy Birthday, too. CheckFree's put on long pants and you've started a new decade. What a great time to be alive! Best regards, Pat

To: Robert Gintel who wrote (3085)	4/1/1998 8:19:00 PM
From: David H. Zimmer	Read Replies (2) \| Respond to of 8545

Bob: When we sold CKFR between $21 and $27 per share we added to our position in LGWX at $10 (average price $9) and began to buy THNK around $10 to $12 as well. When LGWX received a tender offer we sold our entire position at $13, began buying RETX at $4 1/2 and added to our position in THNK at $12 to $15. As you are aware by now, Volpe Brown put out a buy recommendation on THNK today and the stock closed at $23 1/2, up $6 1/2 for the day. RETX closed at $5 1/2. Not bad for a month's work. Without doing a complete mathematical analysis, the moves we made would be the equivalent of CKFR moving from where we sold it to $50. I do share your belief that long term investments are king. That is how we treated ICIX, ICGX, BFPT, MFS Communications, COLTY and more recently METNF and now ESPRY, all within the CLEC arena. All of these investments were recommended by analysts who were able to quantify what the next account, the next mile of fiber, the next switch or the next dollar would put to the bottom line. Whether or not we will be back into CKFR is dependent upon the same questions I asked you and others long ago -- the need for this same type of viable discounted cash flow analysis. No one has yet to illustrate to me a DCF which produces a reliable measure of what the next whatever brings to the bottom line. This, in conjunction with the potential of MSFT to simply pull the revenue rug out from underneath CKFR's feet leads me to believe that my decision, for the time being, is to remain on the sidelines. Nonetheless, as always, to all, even you micny, I am happy to see that you are all doing well and happy that CKFR is moving higher. In the long run CKFR will perform within the boundaries of its many analysts. Take care Bob -- enjoy your 70th -- see you when you return to Greenwich. Zimmer