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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Sea Otter who wrote (3110)	8/1/1998 3:51:00 AM
From: Kevin G. O'Neill	Read Replies (1) \| Respond to of 10081

Have a great trip Sea Otter! I agree completely with your take on things here and I've enjoyed your many posts. I've been vacationing on Cape Cod with my family so I've been unable to track all the craziness, but I wasn't so out of it today that I missed the chance to buy a little more at 8 5/32. <ÿ;ÿÿ)> When I get back home I'll be signing up for the service...

To: Sea Otter who wrote (3110)	8/1/1998 4:17:00 AM
From: up_tick	Read Replies (3) \| Respond to of 10081

I agree with most of your post. The problem here is that the folks who get to be millionaires don't buy in at 20x book value. Those folks got in at $1, did the appropriate, detailed DD and have managed their portfolio accordingly. I've seen a ton of great technology - that's not enough to make a great company. This company has all the hallmarks of well intentioned novices at the helm. First you get the hype, then the work to manage expectations, then the crash. It's a classic. You also see the big name leverage: MSFT, Satchi, carriers, board members. This is all great 'feel-good' material, but when you look at the business case in detail, you find a lot of risk. The big money players have the resources to do this -- face it, you didn't tend to the details when doing your homework -- that, not the sharks, put you on the rocks. Have a very nice vacation.