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

To: Pigboy who wrote (18315)	9/30/1998 8:49:00 AM
From: Neil S	Respond to of 29386

All: Interesting article on SAN developments, both pro and con. nwfusion.com <<The SAN market for hardware, software and services is expected to grow from an estimated $3.5 billion in 1998 to $14.8 billion by 2000, according to Strategic Research.>> <<"This isn't something you can put together at Computer City," says Rob Davis, director of product marketing at Ancor Communications, a storage product developer in Minnetonka, Minn. Hewlett-Packard and Sun are building SAN capabilities into their storage boxes, Davis says.>> <<Industry experts predict the next generation of SANs will take on additional duties in the network. "The next phase will be when servers aren't even dealing with requests," Ancor's Davis says. "Instead, the SAN will talk directly to the client." >> Neil

To: Pigboy who wrote (18315)	9/30/1998 2:54:00 PM
From: Greg Hull	Read Replies (1) \| Respond to of 29386

Pigboy, <<I think now I'd rather have these preferred guys be less rich than me rich. I pray for it now like a giant ninny every morning when I log on.>> I think the situation that is best for the preferred shareholders is a quick pop in price. If you want those guys less rich, pray for a flat to very slowly rising price. They have to convert eventually - only 30 more months max I believe. If you can tough it out till 3/2001 and figure out a way to keep the price flat and Ancor still in business, you can be a Pyrrhic victor. The other extreme is to hope for a sawtooth market that gets them out very quickly. You maximize dilution but get them headed for the next desperate CFO sooner. I harbor no animus toward the preferred shareholders. They have their job to do, and seem to be doing it well. They set up very attractive terms in the Series C agreement, and are now reaping the benefit of their forethought. As recently as June I did not understand the trap door that accompanied the convertible offerings. I think I've learned a lot in 3 months, unfortunately many investors knew of these liabilities years ago. Message 5101981 I think I'll take James B. Cloonan's advice in the future: "For most individual investors, if you believe in the technology of such companies and have them in your portfolio, keep up-to-date on the company's financing plans. If they are going to, or just have, financed with variable convertibles, sell and wait to pick up the stock again when the price falls." Greg