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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Jason Cogan who wrote (5624)	4/30/1998 11:37:00 PM
From: DubM	Respond to of 12468

<In the meantime, AT&T appears to have made their local loop bet through TGNT, not wireless for the time being.> Jason, I know you didn't mean TGNT, but since you mentioned it, what is your comparative analysis of TGNT and WCII? Thanks, Dub

To: Jason Cogan who wrote (5624)	5/1/1998 6:03:00 AM
From: TheSlowLane	Respond to of 12468

Jason - I might be able to see why you think most of us are still too dim to get your point about the debt. How do you account for the fact that all these analysts are missing it too? Are they aware of it and deliberately misleading their customers and the public for their own self-interest? Or is it that you think that you have figured something out that they have completely overlooked? In an industry as hot as this one is right now, where consolidation fever is rampant, I still think you are playing a dangerous game. If you are right and the stock collapses...I can still walk away without a loss (unless it goes to zero, which is doubtful). Cheers! p.s. Jim - can you give us an update on how much you are up on your short? Thanks...

To: Jason Cogan who wrote (5624)	5/1/1998 8:22:00 AM
From: James Fink	Read Replies (1) \| Respond to of 12468

<<I misspoke before. My puts were not executed, so as it stands, I'm just short calls. Perhaps if we get a little more of a rally, I may pick up some puts cheap.>> Jason, I admire your bearish analysis of WinStar. Nevertheless, your "misspeaking" regarding your option purchase in WinStar is UNACCEPTABLE. You have lost a great deal of credibility with me and perhaps others on this thread. In the future, never announce your investment until you are absolutely sure it has been executed. Otherwise, I and others will think you are a liar who changes his story to take into account future stock moves that go against your investment.

To: Jason Cogan who wrote (5624)	5/1/1998 9:18:00 AM
From: Steven Bowen	Read Replies (1) \| Respond to of 12468

Jason, so all you are is short naked calls now and you want to tell me it's not a bet on being right but rather taking advantage of market inefficiencies??? And you tell me I'd better study option strategies??? If you want to take advantage of inefficiencies, go long the stock and short calls, or short the stock and short calls, but not naked calls. If I hand you a revolver with one bullet in it, would you pull the trigger? That's esentially what you're doing here. No more than a flat out gamble similar to Russian roulette. There's just no risk/reward here. What, you stand to make a whole buck fifty in three months?? Wow, and how much of your margin are you tieing up for the whole three months? You can't make a safer buck fifty some other way? Right now your max reward is 1.50, and as I see it, risking about $50. Risk/reward equal 1.5/50=.03. So, if the odds WinStar gets a takeover bid (or rumors) in the next three months is greater than 3%, I don't see any reason to take the postion. Of course, this isn't saying you won't win, a lot of people win playing Russian roulette, just not something I would do. Again, like I suggested before, I don't think you did this for any logical reason, you just did it to spite us. Like you guys think any of us here care if you're really short or not. "negative net worth"- Like I told you before, but maybe you weren't listening; WinStar's largest asset, their licenses, don't show up on the balance sheet because they received most of them for free, and there is no way to accurately value them. I would say many companies world wide would be happy to buy the licensees alone for probably $2B. So, now if we burn thru the cash in the bank, we have a net worth of zero, a lot better than -$2B. PS Ignore Fink, everybody else does. PSS And as to WinStar being the acquirer, I think everybody here sees this as the first piece of a much larger picture, one that includes WinStar being the acquiree. Whether it all comes together in the next three months or not is anybodies guess, but I would say it will come together.