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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who wrote (118773)	8/29/2001 6:37:53 PM
From: patron_anejo_por_favor	Read Replies (2) of 436258

Good to see that optimism has been totally exorcised from the market: quote.bloomberg.com ``You have to be fully invested today because you can't get fully invested at these prices in 90 days,'' said Kopp, who expects the Nasdaq Composite Index to rally 30 percent by the end of November. ``The cleansing that we've gone through in the last 14 months will bode extremely well for the economy and the equity markets for the next several years. The stage is set for a lot of wealth creation.'' Kopp acknowledges there's little ``visibility'' for many of his companies. Telephone equipment makers are weighed down by a backlog of inventory and orders have dried up. He doesn't have a clue when demand will pick up, but he's confident it will eventually. And he takes comfort in the pessimism among investors. I suppose I could accept this guy's spew as gospel, if it weren't for this: The 66-year-old tennis player opened his first mutual fund in October 1997, only to see it lose half its value as investors shunned small stocks because of a financial crisis in Asia and a muddied outlook for corporate profits. The Kopp Emerging Growth Fund bounced back. As telecommunications and Internet stock mania took hold, the fund soared more than six-fold from its bottom, jumping 148 percent in 1999 alone. Chicago-based fund tracker Morningstar Inc. awarded it five stars. Money poured in. Today, it's back where it started. Down 63 percent over 12 months, the fund's net asset value closed yesterday at $11.17, not much changed from its first-day close of $10.05 almost four years ago. As the Internet and telecommunications boom went bust, his largest positions have lost half their value from the top. Some, like ADC Telecommunications Inc., are down 90 percent. Down 90% in a position?! HEL-LLOOOO! Got Stop-Loss orders?

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