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To: limtex who wrote (10727)	3/16/1999 12:57:00 AM
From: DreamWeaver	Respond to of 12468

OT Cellular News from "across the pond" I believe it was SW that called the last wireless sector rotation last summer. Perhaps this is an early warning sign... LONDON (CBS.MW) -- Telecom shares were ripped from their Mount Olympus perch on Monday after a major Cable & Wireless investor dumped its 10.2 percent stake in the company at a discount to Friday's close. Veba AG, a German utility company, surprised the market with news that it was selling its stake in C&W through ABN Amro Rothschild and Cazenove & Co. One analyst likened the sale to thumbing the telephone book for buyers: not exactly discreet, and perhaps not exactly the best way to bag the best price. Cable & Wireless (CWP) shares shed 4 percent, or 29 pence a share, to 699. "C&W said they helped Veba to do this -- but would you? [It was like looking] through the yellow pages," said John Tysoe, an analyst with SG Securities in London. "The sector has performed so strongly, and all of a sudden you've got a seller -- and a big one. Investors are thinking, 'What do they know that we don't?' " Tysoe said. In fairness, Tysoe said, the Veba (VEB) sale was actually part of a complicated business relationship dating back about three years with C&W. Monday's sale, more than anything, reflects a slowly evolving change in that relationship rather than a sudden loss of faith in C&W's credentials, he said. But investors, who have -- some say -- indiscriminately sent U.K. telecom shares through the roof, didn't bother to look at the fine print. On Thursday, they were busy sending the sector through the floor, taking a toll on the FTSE 100 index, which closed down 1.2 percent. See World Markets. Colt Telecom Group (COLTY) fell 5.12 percent to 939; British Telecom (BTY) fell 2.4 percent to 1058; Orange (ORGNY) fell 2.12 percent; and Vodafone Group (VOD) fell less than 1 percent, or 10 pence, to 1120. C&W and BT alone accounted for half the benchmark's decline. Since January, telecom stocks have been among the hottest industry performers in Europe, particularly in London. They've shot up 18.8 percent since Jan. 1, while the benchmark FTSE 100 index has gained just 5.5 percent. Like their brethren Internet stocks, some of the market's favorite telecom stocks don't earn a dime yet. In fact, three favorites -- Colt Telecommunications, Orange and TeleWest -- have been churning out losses. So there's no sense in looking at price-to-earnings ratios to make sense of the extraordinarily high expectations investors have placed on the sector. Dumped for cyclicals <<< SNIP >>>

To: limtex who wrote (10727)	3/16/1999 1:10:00 AM
From: bob glass	Read Replies (1) \| Respond to of 12468

I am neither "learned" nor "experienced", like those you mentioned (the opinions of whom I respect). I do, however, have my own opinion, for what it's worth.:) As I have said before, what B.R. is creating is not just a "company", but a revolution in telecom. In doing so, and in executing on his vision (as I perceive it), the potential in the short term may elude many in the market, but in the long run (assuming you can hold on), you will be really glad you bought when you did. And, by the way, there's nothing wrong with trading in the interim. Best regards to all, and above all try not to be reactionary and emotional about the day-to-day trading fluctuations...it will drive you crazy! Just enjoy the ride.