The Bridge of San Luis Rey. The Bridges at Toko-Ri. The Bridge on the River Kwai. Occurrence at Owl Creek Bridge. A Bridge Too Far. The Newbridge Networks (NN) ?
Name me six bridges that crush everything in their paths, leaving death and destruction in their wake.
Yeah, and for me it is Double Jeopardy. This is the second time I have been gaffed by this darn Newbridge. Not big, but more pleasurable than any of those other dramas for the participants.
Amazingly, I thought things were going to work either way here. We would either get a bid from someone who lost out for
or we would have a great quarter. Lots of people betting that way. The word was out: a great quarter for Newbridge.
Once again, I come back to rules that can't be broken: You can't speculate on companies with poor operating histories. Life is too short.
No matter that, on the conference call, it was execution issues -- not demand -- that hurt the quarter. When they straighten things out, will the orders still be there? Beats me.
I will hold my Newbridge. Not going to sell it down here at 27. Hanging on to a piece of the bridge, hoping to be washed to the 30 shore, where I will jump off, hopefully in one piece.
Nasty way to start the day.
Wrath of Khan
? Too early to tell.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Newbridge, although positions can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at