clarus would not have been better off on its former path. though management's final idea on their own was at least intended to be quite similar to the kanders way. so it's tough to say, but i know that it would have taken much longer to shed the expense base we had.
to think that clarus would be doing well right now - or would have gotten a materially better deal for the software had they waited - couldn't possibly be correct. clarus trades above cash soley on the reason that we exited the business and shed the credibility problem we had in 02. if we kept the business this long, we may have traded up over the last six months, but the move would have been from $3.50 to $4.50. not from $5.50 to $7.50.
to shun tech right now - or to pre-screen-out any sector as a rule - would be shortsighted. however, i think it's fair to say that kanders doesn't seem to have a fever for volatility. in fact, he doesn't really seem to have a fever for anything right now. which is a pity.
happy hunting. or waiting, as the case may be.