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Technology Stocks : Phoenix Technologies (PTEC) -- Ignore unavailable to you. Want to Upgrade?

To: John B. Dillon who wrote (2974)	12/24/1998 1:51:00 PM
From: Fred Fahmy	Read Replies (1) \| Respond to of 3624

John, <The only other question I have is why isn't there additional insider buys?> Good question. I'm afraid, however, that the answer is simple. Insiders, like everyone else, invest to make money. They can see WS's reaction to PTEC just like you and I. This stock has been a bad investment for years. Perhaps you should view the lack of insider buying as good judgement on their part <ggg>. I'm still waiting to see positive signs such as a meaningful aggressive buyback program and/or earnings above estimates and/or new analyst coverage before I get on board again. I'm sure when/if the insiders see these same things, at least some will get on board too. Having said that, keep in mind that insiders in most tech companies are already heavily weighted/invested in their own companies via options and their jobs. Lack of insider buying in and of itself doesn't bother me nearly as much as PTEC's lack of investing in itself (via buyback). Sitting on cash when your stock is hovering around book value does not instill confidence to say the least. I know that due to certain restrictions relating to recent acquisitions that they currently can not buy back shares. However, it will be interesting to see if once this "lockout period" is over if they will actively put their money where their mouth is or if this will have merely served as yet another excuse not to buy back shares. Like many other undervalued small stocks with decent fundamentals and virtually no IR/PR or relations with WS, the only way for investors to realize anything close to fair value may be to find a potential suitor. Intel....are you listening?? FF