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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: paul e thomas who wrote (8515)12/23/1997 4:34:00 PM
From: paul e thomas  Read Replies (3) of 13949
 
HOW A REALLY BIG Y2K INSTITUTIONAL PLAYER LOOKS AT THE SECTOR

I just got infomation packet from Lord Abbett Developing Growth Fund. This fund according to Morningstarrecently purchased over 5 million shares of IMRS.The fund is up 25% year todate which is better than all but 2 of the 24 growth funds listed in the IBD growth fund index. It also has an A+ rating for 3 month performance. In the summary brochure they state computer software and services is their most important sector.In the Semi- Annual report issued in August they state"over the past six months we added a significant number of holdings of software and service companies that deal with year 2000 complianc.We consider this a very exciting area, particularly because of the LONG TERM POTENTIAL ASSOCIATED WITH INFORMATION OUTSORCING TECHNOLOGY OUTSOURCEING.we SEE GREAT OPPORTUNITY IN THIS SECTOR BECAUSE WHILE HISTORICALLY THE STRATEGIC BUILDING OF COMPUTER SYSTEMS HAS BEEN DONE INTERNALLY BY DATA PROCESSING MANAGERS, WE FORESEE A SHIFT TOWARD THE OUTSOURCING OF THESE TASKS AND HAVE POSITIONED THE PORTFOLIO TO TAKE ADVANTAGE OF THID TREND' The fund brochures states that in June they owned in descending order of importance IMRS,ISLI,MAST,CHRZ,DDIM,CBSL,CACI,MIFGY.These stocks represented 42,500,000$ in market value with 1/3 coming from IMRS.At the end of June Y2k accounted for 10.4%of the entire fund market value.On 9/30 IMRS was identified as the 5th largest $ value holding or 2.6% of the fund. This funds holdings give considerable credence to what I have been preaching of late namely the recent price strength in Y2k is particularly being felt among comanies with the potential for a strong business beyond the year 2000.I must say that I feel much more comfortable with my decision to have 550,000$ invested in IMRS.
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