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

To: John Arnopp who wrote (1574)	8/10/1998 5:00:00 PM
From: llwk7051@aol.com	Read Replies (1) \| Respond to of 4467

John, I track the net asset value daily using a crude approximation of your approach. My method is based on a model portfolio that estimates the number of shares of each public company compared to the total sfe shares. I then download prices each day and get an update. It is not exact because I have to do some estimates for options and such and their equivalent shares. However, it does track fairly well with your more accurate spread sheet. The net asset value each day usually tracks with the price. Occasionally their is a bigger move in sfe than the public holdings, but that generally corrects within a day or two. Like the big drop in sfe recently was greater than the public company value. Within a day or two the public companies declined some more but sfe stayed stable and the normal relationship returned. Based on my observations, I don't really see any benefit to doing the computation more often than weekly unless you see a really large percentage move and are seriously considering trading the stock. To me the net asset value computation is more of a tool that warns when the price is higher than may be supported by the market values of the public companies. I appreciate your updates as I am sure other sfe shareholders do. Good luck to all. Robert D.

To: John Arnopp who wrote (1574)	8/14/1998 2:27:00 PM
From: llwk7051@aol.com	Read Replies (1) \| Respond to of 4467

John, SFE net asset value dropped this morning because of Tlab. At the time, SFE was not down very much. I decided to experiment with 10 put options and bought them at market. This won't protect my sfe position, but I thought it would be instructive to see what happens. Since then, sfe has dropped about $1. I have now entered a sell order on the puts. I will see if it will close and let you know whether it was just a waste of time or money. This is my first experiment with options. I still have faith in sfe longterm and have no plans to sell my position. Good luck to all. Robert D.