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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Hawaii60 who wrote (7989)	5/19/1999 6:12:00 PM
From: neverenough	Respond to of 30916

Hawaii, Looks like your getting to be pretty well known on the IDTC boards. Raging Bull's Herd On The Boards - Wednesday May 19, 1999 ragingbull.com The buzz on the IDT Inc. (IDTC) thread has been filled with investor anticipation of the telecommunications service provider's spinoff of its Net2Phone division. Shares of the company rang up 7/8 to 28 1/8 today as it announced the filing of a registration statement with the Securities and Exchange Commission for a Net2Phone intial public offering. Raging Bull member hawaii60, who has included several links through the Bull's Raging Links icon, was ecstatic about the news in a note to Hugold this morning. "Sorry, I was enthralled watching the action," hawaii60 said in note #2490. "I bought 4000 more shares at 29 1/16. I'm not even thinking of selling my May calls until later in the week, and I am confident we are heading way North. Anyone who has been around this stock for any length of time knows the games that get played in the morning. The fact is, the mm's, the shorts. They all know how psychologically manipulate folks. Believe me, they know how fear works and they work it well. I can assure you that as any weak hands are selling, the professionals are accumulating today." ragingbull.com

To: Hawaii60 who wrote (7989)	5/19/1999 6:14:00 PM
From: limit	Respond to of 30916

Hawaii, Thanks for the DD and the post. Regards limit

To: Hawaii60 who wrote (7989)	5/19/1999 6:42:00 PM
From: S Wall	Respond to of 30916

H60, good response. I for one have always worried that a drop in IDTC share price would off set anys gains on NTOP. I really never saw the advantage. Disappointed but still long. Thanks for all your hard work to date.

To: Hawaii60 who wrote (7989)	5/19/1999 6:52:00 PM
From: Jules B. Garfunkel	Read Replies (1) \| Respond to of 30916

H, All that you say may be fine, but why not have IDTC set aside some of the NTOP shares for their existing shareholders to purchase at the IPO price. Why should H & Q, BTAB, or BS's, largest institutional clients get the opportunity to buy this very hot IPO issue, at initial IPO prices, while you and me watch with our tongues hanging out? If they were to set aside NTOP shares for existing IDTC shareholders they would be rewarding them both now, as well as, in the future. Further, I refuse to believe that HJ will not have NTOP shares put aside for him to purchase at the IPO price, no matter what you may say. Jules

To: Hawaii60 who wrote (7989)	5/19/1999 11:00:00 PM
From: blankmind	Read Replies (2) \| Respond to of 30916

i think when you look at other spinoffs, the core of the business has been spun, and not a niche, hence the drop after the ipo. we shall find out over time if this strategy proves correct. it is probable small investors would dump idtc after receiving the ipo shares, not understanding the innards of the stock. but because idtc has many more things to offer, institutions would not sell, and would gladly purchase the shares from those selling to create the dip, which would be temporary. i still believe idtc will continue its climb.

To: Hawaii60 who wrote (7989)	5/20/1999 1:31:00 AM
From: David Wise	Read Replies (2) \| Respond to of 30916

You got that wrong. ZD owns closer to 80% of ZDZ, NOT 20%. So your conclusion is backwards - since ZD went down from about $30 pre-IPO to $13 today, IDTC (given your logic) should do the same, or more (66% ownership of Net2Phone v. 80% of ZDZ). Total IPO, including overallotment, was 11,500,000. Total shares were 71,500,000. Options for an additional 10,000,000 were outstanding, and I'm not sure how they played out, but at worst case, ZD owns 74% and at best about 85% of ZDZ. Of course for some reason you never listened to me. I told you this many times. Now MALL, which I have owned and added to today, will spin off ALL of their UBID shares as promised at IPO. Why MALL was so undervalued, I don't know. I'll receive .7 shares of UBID, currently at $48, for each share of MALL. MALL is still a bargain at $39. Will UBID drop some to meet the .7 price? It really shouldn't. Their revenue is growing incredibly fast. I can't say from spin-off experience, because I have none (at least I admit it). But since I think MALL shares are worth almost this much anyway, I see big gains ahead, in addition to today's 30% gain. Now if IDTC had said they'd spin off the IPO to shareholders after 6 months, I'd be buying! Your long winded sales pitch just got a hole blown in it, since your premise was that ZD only owned 20% of ZDZ and that's why they fell. Your conclusion was that IDTC, owning 66% of N2P would not fall as dramatically. Would you care to revise your conclusion? By the way, you might impress some people when you talk about calling the company's secretary, or some .10 cent analyst, but I happen to find this laughable. What do you expect them to tell you, "no, management screwed up. The IPO will certainly reduce your value in our stock." And why do 5 analysts (at least) rate IDTC as Hold? One more correction, your comments about the core holdings of IDTC being "worthless", and the new information about them keeping a "controlling interest" in N2P changing analysts' opinion is bogus. IDTC has far more actual value than N2P will recognize in many years. Unfortunately with earnings coming out by this Monday, and expenses of repurchasing bonds, issuing new debt, and preparing for IPO, they probably won't meet earnings expectations. But long term (2 years) IDTC's core business will still be far greater than N2P's.

To: Hawaii60 who wrote (7989)	5/20/1999 1:39:00 AM
From: Hawaii60	Respond to of 30916

Regarding Matt Ragas at Raginbfbull.com. In my earlier post which is referenced to this one I quoted Matt Ragas as saying "he would write a detailed article about IDT in the Friday issue. As sometimes happens when we quote others, I was mistaken and should not have done so. I did speak with Mr. Ragas because of his previous article which was so well written about IDTC and so prescient. He did comment that he "might mention it" in the Friday edidtion of ragingbull.com. He DID NOT say that he would be writing a detailed article. This was MY assumption. I pride myself on the relationship that I have with folks such as Matt. I normally do not and will not in the future, quote them directly for exactly this reason. Whether he mentions it at all and what he has to say about it is completely up to him and should not have been second guessed by me.

To: Hawaii60 who wrote (7989)	5/20/1999 7:04:00 PM
From: Jules B. Garfunkel	Read Replies (3) \| Respond to of 30916

H, In the absence of not hearing a response from you to my #7994 post of yesterday evening, I spoke with David Brainson of IDT's Investor Relations Department. Following is a review of that call. 1. He assured me that NO ONE in IDT's management will have any NTOP IPO shares allocated to them. Everyone at IDT will be in the same boat as the average shareholder. i.e. Everyone will have to buy shares in NTOP in the after market, if they are not able to get it through their broker. 2. That management had considered a plan similar to the one I had outlined to you last night, but rejected it. They believed, that the support from the large institutions in the after market, would be very important and therefore wanted the IPO shares in very strong hands. 3. He opined, that all of this would become much clearer once the road show for the NTOP IPO began. 4. I asked if he had received many calls like mine over the last two days? He said he had. When I asked if he thought this was why IDTC's stock was down over the last two days, he said, "If they are selling because they are not getting NTOP IPO shares at the initial price, they are cutting off their nose to spite their face" 5. He stated that the ability of IDT to retain CONTROLLING interest was very important. He went on to say that management held many more shares than I did, and that I should be rest assured that the way it is set up, was best for all current shareholders. This, he reiterated, would become clearer from the road show. Once I knew that NO ONE in management would receive preferential treatment and have NTOP IPO shares allocated to them, it was hard for me to go on any further. 6. He again stated that I would feel better once the road show began, and ended the conversation by confirming that earnings would be released June 3, with a conference call later in the afternoon. Jules