At least one fund manager likes Oracle:
Sheltering from the storm
So how are US fund managers reacting to these troubled markets?
Schroder's Mr Cooke is standing by the views he outlined to FT Investor in November: that those companies which slash costs aggressively will lead the recovery. See this story
He is confident we are now witnessing a normal economic recovery, with US productivity up 8 per cent in the first quarter of 2002.
As a result his portfolio is becoming more cyclical, with chip companies such as Applied Materials (AMAT: news, chart, profile), Teradyne (TER: news, chart, profile), Oracle (ORCL: news, chart, profile) and Micron Technology (MU: news, chart, profile) to the fore, alongside industrials and basic materials.
He is confident that the S&P 500 (SPX: news, chart, profile), currently languishing below the 970-point level, will hit 1,100 by the end of the year.
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