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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (63869)	5/20/2002 2:08:03 AM
From: StanX Long	Read Replies (2) of 70976

Investors Look for Survivors Amid Telecom Rubble: Taking Stock By Perri Colley McKinney quote.bloomberg.com New York, May 17 (Bloomberg) -- Daniel Cantor found just one telecommunications stock worth buying for his Liberty Select Value Fund the past three months, out of 38 with market values of between $1 billion and $10 billion. Cantor purchased 200,000 shares of wireless-, broadcast- and radar-equipment maker Andrew Corp., whose shares have a market value of $1.4 billion after dropping 21 percent so far this year. He said he's betting the company has enough cash to survive even if one or more of its big customers fails. ``You have to nibble,'' said Cantor, whose $1.4 billion fund has gained 8.23 percent year-to-date. ``Picking the bottom is not necessarily what's important -- it's picking the companies that can weather the downturn because we just don't know how long it will last.'' The aren't many choices, Cantor and other investors say. Dozens of telecommunications-related companies have filed for bankruptcy and others are close to failure after they built hundreds of thousands of miles of fiber-optic networks during the 1990s for data and Internet traffic that never materialized. As the economy and corporate spending slowed the past two years, the glut of capacity forced phone-service providers to cut prices and left little demand for equipment.

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