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Technology Stocks : Rockwell-Spins off Conexant (CNXT)
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To: Chip Roos who wrote (1788)12/5/2000 1:27:44 PM
From: gpowell  Read Replies (1) of 2013
 
You want to know why David is so down on the all stocks? He’s been out of the market (except for his one short fund - Rydex URSA, symbol RYURX) since Aug of 98. Nasdaq would have to fall ~67% to get back to David’s exit price.

Further, David purchased RYURX in Jun 99 at $8.59. Assuming zero transaction costs, his gain to date is ~5.4% (annualized that is 3.6%). On the other hand a purchase of CNXT on Jun 01 1999 would have yielded ~17%, based on yesterdays close of $22.625. (A purchase of CNXT a few months after the spin off from Rockwell (Jan 99) would have yielded approximately 140% over the same period.)

A CNXT investor had the opportunity over the period to sell for massive profits, while David’s position was underwater until the last few months.
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