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Technology Stocks : WCOM
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To: Oeconomicus who wrote (10587)6/11/2002 1:43:12 PM
From: tejek   of 11568
 
tejek, AXA is parent of Alliance Capital, a huge money manager. Alliance bought the stock for it's various funds and clients. They've taken a lot of heat for their position in WCOM, especially considering their past investment in Enron, but I doubt tripling their position since Jan 1 was a decision they entered into lightly. Their experience with Enron, if nothing else, should have caused them to scrutinize this investment EXTRA closely.

I am surprised at their aggressiveness given the nature of their business. Of course, we know with the ENE position, they are not infallible.

ted
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