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

To: robert miller who wrote (1724)	10/1/1998 1:37:00 PM
From: Rick	Read Replies (1) \| Respond to of 4467

Frankly, SFE seems to be holding up pretty well. With the following factors: - CATP continuing dramatic decline - TLAB down - World Economic Problems (I didn't read about the international project, but it would not seem timely, at least for short to medium term upside) I just don't understand how it can maintain its value, especially if what Robert believes is true about not having sold any CATP. Anyway, I only follow SFE peripherally, as it relates to my periodic CATP positions. Rick.

To: robert miller who wrote (1724)	10/1/1998 1:47:00 PM
From: still learning	Read Replies (1) \| Respond to of 4467

I am surprised it has held up and do not expect it to continue to do so. Frankly, the gap's widening between NAV and its price. I have no idea what's holding it up. For SFE to continue to stay up, however they need to: 1. announce rts 2. announce they've sold some CATP and/or TLAB 3. show new value based on their sub-VC holdings. This is where the mkt (me included) has a hard time understanding them. How much value should we allocate to the 5-7 funds they've started. Is XLvision a VC/incubator or a holding? Shouldn't ICG be listed under their venture holdings? What's the value of PERS, Int'l, Enertech, SCP, and TL 1-3, plus Radnot Ventures? It would be EXTREMELY helpful if management could periodically value the company itself based on their best guess. 4. make an explicit case for the total value of the private holdings that supports a premium to NAV. 5. just tell us what the mgmt team thinks it's worth 6. explain why they're buying OAOT, but not (really) DOCC, SCAI or DTPI, which have undergone similar drops recently. 7. announce another offering. OK, maybe not all of these, but at least SOME of them. ;-}