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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: David Lawrence who wrote (1507)	7/14/1998 7:42:00 PM
From: still learning	Read Replies (2) \| Respond to of 4467

Two thoughts -- the big guys can't deliver forever, therefore we have to know the exit strategy. I may fax a question along these lines to IR. Second, one reason the premium has persisted, IMO, is that the TLAB conversion may be built-in, holding up the stock. No other explanation, except if the rights offering was already priced in (explaining why we got no bump at the announcement). What I want to know is: how are we ever going to see a mkt cap of $2B, or $5B if SFE only adds $30M at a time? I think they're at a crossroads -- they've built a lot of little funds with lots of little holdings TL, for example. They need to take some of their sub-vc funds public. If not ICG (or in addition to ICG) how 'bout one or more of the other funds. Also, with all these son-of-spinoffs (Who?, CVSN) it's getting harder and harder to tell what SFE is really worth. At some point the have to disengage from some of their investments, otherwise it becomes like an IRS audit of the mafia -- can't tell who owns what, and which holding company owns another one.