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

To: Amy Feller who wrote (2986)	12/30/1998 8:12:00 AM
From: burt l seifman	Read Replies (1) \| Respond to of 3624

Amy, I truly appreciate your philisophical discussion. I bought ptec about three years ago at substantially higher prices for myself and my kids. Believe it or not I had made a lot of money for the family on systemsoft ( the recently deceased). I looked at them and said boy this is a safe investment leader in the field, growing business, very strong balance sheet and strong customer relationships and at that time a recent investment by Intel. I compared it to systemsoft and said if that tramp could make it what about this classy one. All things pointed to a winner and a pretty safe one at that. What have i learned? An Intel investment is worth nothing. In high tech balance sheets (or value) means little. Sex sells. And this one is frigid. I liked your relationship example. It is a relationship that you keep believeing you can make work. It's not one that performs so badly with absolutely no hope of improving. The signs still say it wants to be loved. That it can give and I just can't get myself to admit defeat. It's kind of a human bondage thing you keep coming back to have your heart trampled. I promised myself I would give it until mid 99 if not I will break it off admit defeat and seek understanding and solace from my family. A wonderful and prosperous New Year to all. Burt

To: Amy Feller who wrote (2986)	12/30/1998 5:12:00 PM
From: John B. Dillon	Read Replies (1) \| Respond to of 3624

Amy, Thanks for the great post and relationship analogy. I have not been in PTEC as long as you so I have a different perspective. I see this overlooked girl with great qualities while most guys don't even bother to look at her because they are infatuated with beauty queens like "Amazon". Not only are they infatuated, but they are completely obsessive with Internet darlings without earnings, and at the same time ADD with their day trades. IMHO, PTEC has a credibility problem and Jack Kay knows it. If he can meet his numbers the community will notice and the stock will rise. PTEC is a value stock with great growth potential, and in a much better position than they were three years ago. The question is when will the infatuation wane and when will the populace come back to basics and fundamentals. My dads broker was with Merril Lynch. He made sure he had all of their reports and studied them to death before he bought. The problem was when he bought the information was history and he bought at the peak. Only three local brokers cover PTEC. When PTEC's market capitalization gets above $250,000,000 others will begin to notice. Eventually Merril will find PTEC and recommend it. When this happens, I will start to sell my holdings and look for another "relationship" that is better looking than ever, but considered bad and discarded by others. Like a relationship, sometimes you have to be patient. jd

To: Amy Feller who wrote (2986)	12/31/1998 12:08:00 PM
From: Jules B. Garfunkel	Read Replies (2) \| Respond to of 3624

Amy, I thought your post was lovely. As you know I have been in Phoenix for more than a couple of years. I first bought the stock at 12 3/8 shortly after Intel bought into the company. My initial research showed strong potential, and I thought that I was getting in on "the ground floor". While I recognized that it would take several years for the Intel relationship to really pay off, (not until the Merced time frame), I thought that other investors would soon realize PTEC's potential, and in due time the stock would move "North" of 30. As PTEC moved up I was convinced that I had made a good investment and regretted that I had not bought more shares. However, as we all know, Phoenix's cost for R & D, to meet Intel's needs, escalated in the ensuing years, In my opinion, these ever increasing costs for R & D distorted PTEC's earnings. Certainly, Intel's decision to delay Merced to year 2000, didn't help either. However, as the stock price of PTEC went down I continued to accumulate shares. I spoke with the company frequently, attended their analyst's presentations to WS and was convinced that few portfolio managers were capable of understanding the Phoenix's story. Unlike some on this thread, I found management to be very focused and most sincere in their strong desire to return value to their stock holders. Although, they did everything that they said they would do, they didn't produce earnings. But I believed this would come over time. In recent months I have continued to increase my position in PTEC. My most recent purchase occurred just this morning when I bought more shares at 8. Frequently, like today, I would post my points of purchase. Yes, there were times that I would sell shares for short term gains, but on net my holdings in PTEC continues to expand. Today, I hold a substantial stake in PTEC. My average purchase price is slightly above management's recent purchase of 9 3/8 on the open market, (I really loaded up a couple of months ago when the stock was below 6). But I feel now our time is near. When I first started buying PTEC I never thought that I would get the opportunity to buy shares at such a low price. Each time that I would reevaluate my decision to own PTEC, I would come to the same conclusion, that while the stock price was down, the company was in a better position then when I had bought shares the last time. Now, I can't say that there have not been times that I have regretted not buying alternative investments. Such was the case a month ago when Arrowhead posted on this thread his recommendation to buy SKYM at 3 1/2. Instead I bought more PTEC at 5 1/2. On Monday, of this week, SKYM hit 49 and change, a 1500 % return for the month. However, my style is more that of a long term investor, and I am content with the 50 % return for the month which I got on PTEC. So Amy, the bottom line here is that I can't tell you what to do. I have only attempted to relate what I have done. However, as I read your post, "I hold a soft spot for it, if anything, because it was a stock my father believed in until he died 4 years ago." which I recognized was written from your heart, I thought how would I feel if PTEC went to 40 and I had sold at 7 and never got back in. For me the thought of missing out on the upside, when PTEC is finally nearing WS recognition, was much greater than any potential loss, as PTEC's price hovers near its book value. Amy I wish the best of luck to you in whatever you decide. And to all my friends here on this thread, I send you my sincerest wishes for a very Happy and prosperous New Year. Jules