On January 10, 1994, approximately 1610 mountain standard time, a Cessna 195, N9355A, ground looped after landing on runway 8 at Front Range Airport, Watkins, Colorado. The pilot in command and the pilot rated passenger were not injured, but the airplane was substantially damaged. Visual meteorological conditions prevailed at the time, and no flight plan was filed for the personal cross country flight. The pilot rated passenger was flying the airplane. According to the Pilot/Operator report submitted by the pilot in command, the full stall landing was normal. As the airplane decelerated to about 40 mph, it drifted to the right. He further reported that the pilot rated passenger "over corrected" and the airplane ground looped. The pilot in command later told a Federal Aviation Administration inspector he "waited too long" before assuming control after the airplane started "fishtailing."