Semi Equipment-Sell when they're singing in the streets Message Board

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Technology Stocks : Semi Equipment-Sell when they're singing in the streets

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To: Pink Minion who wrote (199)	6/7/2000 12:39:00 PM
From: Q.	of 276

Marty Whitman's big, timely bet last year on semiconductor-equipment stocks in his Third Avenue Value fund has paid off nicely -- both for his shareholders and, it turns out, the tax man. The fund last week said it would be paying out a long-term capital-gain distribution of $4 a share, almost 11% of its NAV on May 31, which represents the profits taken on some of its chip-equipment holdings before the recent tech selloff. These stocks had become "grossly overvalued" in recent months, he reports, and the fund's valuation stringency spurred the sales. In a good news/bad news twist, Third Avenue Value, which is up better than 15% this year, has few realized losses that could be used against gains taken. from Barron's, June 5, 2000

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