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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Craig Stevenson who wrote (17555)	8/1/1998 1:16:00 PM
From: George Dawson	Read Replies (1) \| Respond to of 29386

"We have been REPEATEDLY warned about ANCR's steady decline, by Ed Doell, Craig Crawford, Ed Schultz, etc...." Craig, I guess I feel I am bright enough to know that if you are invested in a company that is not making money - there is going to be a steady decline. That's probably why these warnings had no impact on me at all - I didn't feel compelled to argue with these guys, I knew they were speaking the truth. What is unknowable is whether the MKII will be accepted and sold in big enough numbers to make the investors money. This is the guesswork we have all been engaged in on this thread. So far the guesses we have been making haven't paid off. Your statements about valuation are also true, but I have an equally compelling story. A colleague of mine began investing in a heavy machinery company when he was in high school. I found this interesting because when I went to school, I had an apartment right next to this company They made heavy construction and farm equipment. They had a huge industrial complex that covered about 25 blocks. They seemed to be constantly cranking out product. The atmosphere around my apartment always seemed permeated with the scent of machine oil. It seemed like business worth hundreds of millions if not billions of dollars. Well, one day they went broke. My friend said his stock price went to zero. Looking at an investment in Ancor in this context highlights the risk. Granted this context may not apply and may be based on defective memories and a different industry. For example I don't know the financial specifics of what happened. I do know my colleague is a very bright guy and a knowledgeable investor. It also seemed like this company had a lot of assets and value. George D.