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Technology Stocks : MONI - Marconi Nasdaq ADR

MONI 0.00346

-3.9%

Nov 7 9:30 AM EST

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To: ms.smartest.person who wrote (56)	3/27/2001 7:08:17 PM
From: ms.smartest.person	of 129

Carr Sheppards' George on Outlook for European Stocks: Comment By John Fraher London, March 27 (Bloomberg) -- The following are comments by Tristan George, manager of the Mayflower British Leaders Fund at Carr Sheppards Crosthwaite, which has fallen 6 percent this year against a 9 percent decline in the U.K's benchmark FT-SE 100 Index. He recently sold Cable & Wireless Plc, Marconi Plc(OH NO!) and Telewest Communications Plc. He likes oil companies such as BP Amoco Plc and Shell Transport & Trading Co. ``I wouldn't buy into this rally, would you? I don't think we've seen the bottom yet and I'm selling into the rally. Earnings aren't looking great, and I can't see how the economic outlook can boost equities. ``I tend to pay attention to the Cisco boss (John Chambers) who believes the slowdown will be longer lasting than people expect. ``Stocks are cheaper now than what they were, but they're not cheap. I won't be jumping into the market until they're cheap. ``I've sold anything that's jumped quite a lot recently, especially the high price-earnings stuff. ``I like the oils as you have certainty of earnings there. They have earnings you can see. If crude prices are anything above $20 a barrel, you'll have earnings predictability.'' quote.bloomberg.com

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