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Technology Stocks : Nortel Networks (NT)
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To: Bosco who wrote (8087)10/31/2000 11:50:44 PM
From: Bob Kim  Read Replies (1) of 14638
 
Hey Bosco,

The ML fund manager mentioned that a few things led him to sell his NT. Among them were Sagawa's survey (rather than his stock picks), BT's inability to do a financing, and input he was receiving from European sell-side analysts who had been in contact with ALA. I thought it was ironic when ALA announced its deal today that it involved a considerable investment.

I think one thing that is made a little clearer for some people is that ML fund managers operate independently of ML sell-side analysts. CNBC tends to blend everyone together even though the business objectives can be totally different. When I was a sell-side analyst, my ML buyside clients used to belittle ML's sell-side research.

I thought the piling on thing was unnecessary. The fund manager didn't own anymore, but many in the audience still did because it was a favorite in research.
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