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A little background... I work for a relatively small (under $10M per year) specialty analysis firm (non-financial). WCG is one of my many tech & telecom clients.

I've been on the fence for a long time about whether to buy into WCG or not. The work that I do necessitates that I know just about everything going on at any particular time for the company. Everything I have access to is public information and doesn't offer me any critical insights that aren't shared by everyone on this board. The material I have seen over the last 12 months made me want to buy into the company...but it also made me think the risk/reward scale wasn't to my liking.

However, I have noticed a very, very odd thing over the last three years. I have a somewhat changeable stable of about 20 clients...some go, other arrive, but mostly they are consistent over time. I have often bought stock in the companies I work with simply because I learn so much about them that I feel confident placing my money in them. I have noticed that my client list and my portfolio are strangely correlative in how well they do respectively.

For example...a client will scale back their contract or will drop our services altogether...3-12 months later...bad financials, bad stock price, perhaps bankruptcy, very poor media image.

A client either maintains our contract or increases it...3-12 months later...improving financials, good stock performance, good media image.

Now this sounds pretty straightforward, I know. However, I have had a lot of clients that appear to be doing just fine (winning multi-billion $ contracts in some cases) right up until the day they hit the wall. I have started to trade my portfolio based on my client list...and I am doing remarkably well over the last 18 months. Out of the 12 major decisions I have made, I got 11 of them right. I think that is pretty good, particularly in 2001.

So, to repeat...I've been on the fence for a long time on WCG...but I'm not any longer. This afternoon I purchased a decent sum of WCG stock.


This morning I received a phone call from our senior contact at WCG. She told me that they value the work we do for them, but they needed to set up a meeting to chat over some budget changes for 2002. She let me talk for a few minutes about what we could do on a slimmer budget (knowing my other telecom clients I assumed the worst) before telling me happily that they have tentatively planned on tripling the budget for our project. Effective immediately.

Make of it what you will...*smile*


- Not an endorsement, not any inside information, just a few tidbits from someone who is now the optimistic owner of a small chunk of WCG.
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