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

To: DubM who wrote (6204)	5/20/1998 11:51:00 AM
From: silicon warrior	Respond to of 12468

Technically, this would be the time to do a paired trade--you go long the undervalued and short the overvalued in the same industry, a "traditional" value investor move, somewhat of a hedge.Of course, i'm already long wcii, maybe we should all short tgnt. How about tgnt is appropriately valued, making wcii grossly undervalued?

To: DubM who wrote (6204)	5/20/1998 11:52:00 AM
From: Steven Bowen	Read Replies (1) \| Respond to of 12468

Hi Dub, I just came across some info that surprised me a little. Guess who the fifth largest institutional owner of WinStar is? Yep, good ole Morgan Stanley, with 680,580 shares (as of their 12/31/97 filing). And remember Ms. Comforts downgrade around Sept? Morgan Stanley proceeded to buy 641,596 of those shares during the forth quarter. That probably gives them that many more shares to sell to keep the price below 40.75. Damn games. Compare Morgan Stanley with; Montgomery Securities in 42nd place at 69,950 shares Bear Sterns 35,552 Legg Mason 22,595 Gabelli (for Ali) 15,000 Soros 14,300 bought during 4Q CSFB 8,600 Robertson Stephens owned 277,000 all of which they sold during 4Q97 Top owners; PIMCO 1,180,000 GBU, Inc 1,080,300 Chancellor 989,000 Brankers Trust 732,700 These numbers are all from the latest filings, in most cases 12/31/97