To: MGV who wrote (9474 ) 3/19/1999 2:24:00 PM From: Bob Childers Read Replies (1) | Respond to of 27311
To All- Strip away the nastiness, and DG still has an argument here. And a lesson. His observations about the VLNC market are are both accurate and arbitrary. The lesson is the perennial one - pay attention to the numbers and the facts, not the hype, nor the innocent speculations of the semi-informed. Basicly DG says this stock is risky; TOO risky based on the numbers and facts. He might be proven right. He is certainly right about one thing - if you aren't sleeping well because of VLNC exposure you should SELL. The problem w DG's analysis is his application. An established company has the numbers and trends to play the percentages. VLNC has terrible numbers, mostly growing expenses, and a non-negotiable promise. That is a consequence of this company's stage of development. VLNC longs are here because we want to be in on the initial jump, and are willing to take the risk. Could we lose all our money? Always. DG's mistake is he assumes VLNC longs have not done our DD, that we've somehow been led astray by an evangelical stockhound. "I was at the airport the other day and this guy came up to me in a three piece suit and gave me a copy of the Adam Smith bible. He wanted me to join his commune and donate everything to his cause - Valence something, I think." We have done our DD. We understand we can't avoid a high level of uncertainty with VLNC, and we have to rely on the honesty of the management and the integrity of the Board based upon little more than their public reputations. We have looked overly hard for any sign of progress sometimes; our hopes and disappointments are mapped in the price & volume over the past months. But there are solid signs of progress, and we believe things are coming together now - like the feeling you get kayaking where two or three channels come together in the river. We expect to be proven right. We can't tell you when, but soon. It really is as simple as that. Personally, I'm sleeping very well, thank you. (DG-sell your shorts and get out.) Bob