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

To: Honor First who wrote (378)	8/11/1998 12:49:00 PM
From: Ed Frye	Read Replies (2) \| Respond to of 851

To Buy, Sell or Hold PUMA....... We all lack sufficient direct information to realistically evaluate whether Brad Rowe's statements re: PUMA's TRANSITION will come to fruition. Is this just another disappointment in a long line of disappointments that ultimately leads to bankruptcy or is it the unveiling of and reliance upon his long term strategy albeit sooner than he would have liked? FWIW, I suspect the latter and here's why. Top company officers INCREASED their insider holdings prior to this debacle and did NOT sell before the news or before the recent merger - and PUMA has been able to attract quality upper echelon hires in recent Qs - and Bluetooth, Softmagic (recent merger), Internet server stuff, patents etc. all constitute value - about $2.50/sh based on ths morning's gap down. PUMA's recent hires, new product development and insider stock purchases, however, all suggest Rowe has been preparing for this day (when the synchronization revenue streams would stop growing). Unfortunately, it appears this day arrived a bit sooner than even Brad Rowe expected and he was caught a Q or 2 short. It's now very possible that the combination of the current redirection of product development and depressed stock price will lead to a buyout - perhaps at a price in the neighborhood of what the insiders last bought at ($6.00 - $7.00). For all these reasons, I CONCLUDE PUMA has a heartbeat and ASSUME its recovery is plausible. Short of a bankruptcy, its downside risk from this juncture forward appears to be minimal, and I am prepared to wait a year or so to give Rowe the time neccesary to capitalize on his (our) investments. FWIW//ed