Brian,
>>>Thomas Kurlak has resigned from the Wall Street firm to
join the Tiger Management hedge fund run by Julian Robertson Jr......
Anyone know if you can short a hedge fund?<GGG><<<
Nothing to do with Kurlak (but good riddance anyway!), a fund manager in whose strategy I believe. From the Cisco thread, which has a total Cisco bear that seemingly spends all his waking minutes trying to talk down that stock. Anyway, AMAT right there in the high fours (%) with a couple of other market leaders.
Excerpt from Barron's
Winning Big
Why TCW's Glen Bickerstaff loves the stock market's generals
By BARRY HENDERSON
So the market is being driven by a smaller and smaller group of
stocks with huge valuations. Glen Bickerstaff isn't worried. In fact,
he sees a certain logic to this "winner-take-all" phenomenon -- and
he's betting big that it will continue.
Bickerstaff, who runs the TCW Galileo Core Equity fund, contends
that the best companies in almost any industry are extending their
lead and that those with a true competitive edge deserve a healthy
share-price premium. The best companies are seriously
competitive outfits getting a lift from deep-seated changes in the
economy and consumer behavior -- "secular changes," in Wall
Street-speak. "That's why I own Intel, not Advanced Micro
Devices; it's why I own Dell Computer, not Compaq," he says.
That's a nice explanation -- maybe even a rationalization -- for
owning the generals of the market like Cisco Systems, Microsoft,
Dell and Intel. But doesn't Bickerstaff risk falling in love with
momentum-powered highflyers that quickly could crash back to
earth? The fund manager thinks his fundamental analysis provides
a safety net.
Top 10 Holdings
Company Percentage
of Portfolio
Cisco Systems 7.3%
Dell Computer 7.2
Charles Schwab 6.3
Home Depot 5.5
Intel 4.9
Microsoft 4.9
Applied Materials 4.7
Mirage Resorts 4.4
Kansas City Southern 4.1
Progressive 3.9
Total 53.2
For now, Bickerstaff is betting on companies like Cisco -- which
accounts for the fund's largest single position (7.3%, according to
the most recent available data) -- Dell and Lucent Technologies,
which all make computer or telecommunications devices that
power the 'Net.
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Comments: Another idiot who doesn't pay attention to jach, the
most influential network analyst on SI. This guy obviously didn't
do his homework. Otherwise he should have owned COMS and FORE. |
