Hi Stan,
Still have my full CS position....didn't take any profits yet. I was digging up some info on Kevin Landis. You might recognize the name from FirstHand Funds.
firsthandfunds.com
He has been very successful in his technology fund management, and he is a large holder of CS. FWIW, Kevin will be on CNBC Squawk Box on Monday morning at 8:40 am EST. He will likely back up his current opinion on Cabletron.
Highlights from FirstHand Funds website regarding CS.
Landis, from Mar31
"In my opinion, what we've seen in the market today is
an over-reaction to Cabletron's comments. The company's
fundamentals remain very strong and we continue to be
very high on Cabletron's prospects."
firsthandfunds.com
Technology Value Fund Facts
As of December 31, 1999
Portfolio Manager: Kevin Landis
Total Net Assets: $1.36 billion
Technology Value Fund Portfolio Holdings
Top-10 Holdings as of February 29, 2000
Vitesse Semiconductor 6.2%
Seagate Technology Inc. 5.6%
Cabletron Systems, Inc. 4.8%
PMC-Sierra, Inc. 4.7%
Applied Micro Circuits Corp. 4.2%
TranSwitch Corp. 4.0%
Triquint Semiconductor, Inc. 3.5%
Ciena Corp. 2.9%
Alcatel 2.6%
Legato Systems, Inc. 2.5%
Top 10 Holdings 41.0%
67 Other Holdings 42.6%
Net Cash & Equivalents 16.4%
Total Net Assets 100.0%
Average Annual Returns
TVF NASDAQ S&P 500 DJIA
Since Inception 56.53% 36.35% 25.58% 24.55%
Since Effectiveness 59.23% 41.11% 28.51% 27.26%
5-Year 58.15% 40.63% 28.24% 26.79%
4-Year 57.42% 40.55% 26.10% 24.47%
3-Year 56.39% 47.07% 27.34% 23.20%
2-Year 89.54% 61.40% 24.56% 22.42%
1-Year 190.40% 85.95% 20.89% 27.01%
Q4 '99 Total Return 52.88% 48.26% 14.86% 11.60%
firsthandfunds.com
Cabletron Systems (CS) is a leading supplier of Local Area Network (LAN) switches. It is one of the few remaining independent data networking equipment companies. Most others have been acquired by one of the bigger, highly integrated networking companies such as Cisco, Nortel, and Lucent. In an effort to unlock the unrealized value of the company, Cabletron announced in February plans to split the company into four independent operating companies: Riverstone Networks, Enterasys Networks, Global Network Technology Services, and Aprisma Management Technologies. It is expected that these companies will become four separate, publicly-traded companies. We believe that this market will continue to show strong growth and we expect Cabletron to be a major player, regardless of corporate organization.
firsthandfunds.com
Have a good w/e Stan, and thanks for today's commentary. You are good at calling the intraday tops and bottoms.
Regards,
B
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