To: Gurupup who wrote (3585 ) 6/27/1998 11:45:00 AM From: Money Mood Respond to of 5736
Dear Skip, Really, its time to speak up. But I don't want to scream rape and robbery. Instead I'd like to share the lesson I am learning in being CCSI long. Yes I was caught on the fray here and I didn't know that such things happen among the investment community. I did read Asensio PRs carefully and considered some of the statements laughable, the whole tone pure invective and their purpose too much obvious. The market didn't agree with me though as it didn't agree with you, Skip and any other honest and true believer in Chromatics Color cause. The market acted as if Asensio was its guru. And I asked myself: is it a crowd of rats running over me? Looked very much like it. Then I asked: why they were buying this stock before up to high teens? The answer: they were acting on the wave of belief and high hopes - just as I did. They bought and bought and waited for the deal - just as I did. And the price rose up to unjustifiable level. Did anybody on the long side scream three weeks ago: "the share price is overinflated and is being driven by pure speculation about the deal coming out"? Maybe somebody did, but I didn't hear or didn't listen. Everybody seemed to be out to the battle with shorts. And the shorts quite often acted ugly. I don't see nothing wrong in shorting a stock, but I personally resent any form of cruelty. But war is a war and some of the longs were ready to be cruel to shorts in case we won the battle. This what kept me away from this board. Now I ask myself: why the people with much more then mine experience did not realize the danger of stock price grow driven mostly by the expectations of the crowd? I never heard name Asensio before, but some people on this board should certainly have. If not Asensio then somebody else. Asensio simply did a dirty job that many people wanted to be done. Such stocks IMO should be bought either very early based on the technology or after the technology started to proove itself materially. In between you have a purely speculative price. Why the deal is so important? Because it would be a material evidence justifying our belief. I regret I haven't learnt this lesson earlier. What's now? Neither Asensio nor others failed to tell us anything that would undermine the value and potential CCSI technology has. But company's credibility is being undermined in a big way. If Darby is not working her legs, brains, whatever, out to finalize the deal as soon as possible I feel myself simply betrayed. Does she understand this? What can I do to deliver this message directly to her? CCSI stated that the deal will be announced "shortly". "Shortly" may mean not more than a month from now. Skip, I admire you as a true and honest romantic - a very rare fish in these muddy waters - and as a man of values. I would not trade you for any acid analyst. Janybird and others - thanks for your priceless help on this board. We will party together some day! Let's not focus on shorts now. There may be good intentions and ideas among them sometimes. Let's focus on the reality. Viktor.