If anyone has trouble going to sleep, this ought to cure it...
Dear Market Enthusiast,
Welcome to GoInvest Weekly for the week of Feb. 3, 1998,
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IN THIS ISSUE
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1) Market News
2) Technology And Tech Stocks
3) Personal Finance And Mutual Funds
4) Y2K News and Analysis
5) A Look Ahead At Market Moving Events
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MARKET NEWS
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Stocks In The News
bloomberg.com
quicken.com
Market Wrap Up. Which sectors were strong?
Which sectors were weak?
briefing.com
News That Could Affect Particular Stocks Tomorrow
bloomberg.com
Recent Commentary From Newsletter Writers
marketrap.com
What Have Insiders Been Up To?
cda.com
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TECHNOLOGY AND TECH STOCKS
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For Some Internet Companies, The Bubble Has Already Burst
by Greg Ip
"If you are waiting for the Internet-stock bubble to burst, look
closely: In many ways, it already has. Repeatedly. Despite the
sector's youth, the Internet has already seen some spectacular
flameouts - like Spyglass, pioneer of Web browsers, and
CompuServe, which once led America Online in Internet services."
msnbc.com
When The Bubble Bursts
by Economist
"The Internet is a remarkable invention. Amazon and its peers
are remarkable businesses. Even so, net-obsessed investors
have lost touch with reality."
economist.com
One internet stock that has not flamed out continues to enter
into lucrative joint ventures.
AOL Inks $500 Million Credit Card Deal
by Sandeep Junnarkar and Jim Hu
"America Online and First USA today announced a marketing
agreement to distribute First USA's credit cards. The five-
year deal could generate as much as $500 million for the
online giant."
news.com
Google.com: Next Brainchild To Go Big?
by Tom Taulli
techweb.com
The Tech Boom Will Keep On Rocking
by Nelson D. Schwartz
"Ten tech trends you can bet on."
cgi.pathfinder.com
Global Telecom Rout
by Kenneth Neil Cukier
"As other nations struggle for telecom dollars, the United
States' superior infrastructure is eating into their political
power... Today the nations with the best and cheapest tele-
communications service get the lion's share of telecom revenues
and are in the best position for electronic commerce --
tomorrow's source of national wealth and power."
herring.com
Qwest Sales Jump 319 Percent
by Sandeep Junnarkar
"The nation's No. 4 largest long distance telecommunication
company said that fourth quarter total revenue increased to
$865.1 million, a jump of more than 319 percent compared to
the year-ago quarter."
news.com
Qwest Wins $1 Billion U.S. Contract
by Bloomberg News
news.com
Cisco Tops 2Q Forecasts By A Penny
by Sergio G. Non
"Second quarter sales rose 40 percent to $2.8 billion, from
$2 billion a year earlier, when Cisco earned $457 million,
or 29 cents a share."
techweb.com
Economist Sees Signs Of Chip Turnaround
by Matthew Sheerin
"Citing surprisingly strong global chip sales in the fourth
quarter of 1998, a leading industry economist says semiconductor
demand could come in line, and possibly outstrip supply, sooner
than expected."
techweb.com
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PERSONAL FINANCE AND MUTUAL FUNDS
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U.S. News' 1999 Mutual Fund Guide
usnews.com
Scooping Up the Dividends
by Lynn O'Shaughnessy
"Dividends have fallen far down the priority scale for most
investors, but the Kayne Anderson fund racks up market-beating
returns by keeping a close eye on cash payouts."
mfmag.com
Janus Twenty
"Scott Schoelzel has stood at the helm of $17-billion Janus
Twenty just 17 months. It's more than enough time for him to
earn one of Mutual Funds' top honors: 1998's Manager of the
Year."
mfmag.com
The New Numbers Racket
by Brian Alcorn
"Web publisher John Dick may have hit on a way to predict the
stock market. His method is astonishingly simple: Just ask a
couple thousand investors where they think the market will be
next week."
wired.com
Is Another Good Year For The S&P 500 In The Works?
by Russell Wayne
"More than a few investors have figured out it's easiest and
most cost-effective to invest in a fund that mirrors the S&P
500, which is why Vanguard's Index 500 Fund has gathered assets
at such an enormous rate. Few would question the success of this
approach in recent years, but it hasn't always been that way."
techweb.com
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Y2K SITES OF THE WEEK
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Drug Companies Prepare For Y2K
by Elyse Tanouye
"Will panicked patients attempt to hoard critical medicines out
of fear that year 2000-related computer snafus could disrupt the
drug pipeline?"
msnbc.com
Y2K Countdown: Will You Be In The Dark On Jan. 1, 2000?
by Jesse Berst
zdnet.com
Contact The News: Y2K Won't Be A Dark Day, Edison Says
detnews.com
It looks like most of our critical infrastructure will be ready
for the new millineum, but individual industries and companies
will have significant problems. Many other countries are not
as fortunate. Many developing counties will face a severe
problems with their national infrastructure.
Zero Activity
"If you thought that the millennium bug was a rich country's
curse, think again. Even the poorest countries now use computers
to run many essential services such as power generation, tele-
communications and medical facilities. Yet, according to a new
survey of 139 developing countries by the World Bank, very few
of their governments are prepared for the Year 2000, or Y2K,
problem."
economist.com
No Time To Spare: Developing Countries Face Y2K Crisis
by Jenny Griffee
"Even the least-developed countries have computerized power
systems that could fail, according to a World Bank report on
Y2K problems in the developing world released today. Food and
fuel transportation could be disrupted. Health and medical
systems and the economy are all at risk."
abcnews.go.com
Singapore is in as good a shape as any country.
Singapore Government Agencies Ready For The Y2K Bug
by Reuters
"Nine out of 10 Singapore government agencies have
completed checks and conversion programmes to be ready
for the millennium bug."
jaring.my
Millennium Bug Could End Wall Street Bull Run'
by Jeremy Warner
"Edward Yardeni, chief economist of Deutsche Bank Securities in
the US, told participants at the World Economic Forum in Davos,
Switzerland, that a build-up of negative news on the year 2000
problem might cause stock markets to dive."
independent.co.uk
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A LOOK AHEAD AT MARKET MOVING EVENTS
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Article explores the dependence of other countries on the
success of our economy and financial markets.
Is Market Built On Basics Or Bubble?
by Jay Bryan
montrealgazette.com
Goldman Sees US Economy Terrific, But Slowing Down
by Alden Bentley
"Goldman, Sachs and Co. chief economist William Dudley said
on Wednesday the U.S. economy is clearly "terrific," but that
an expected slowdown in consumer and business spending points
to slower growth.
Dudley said Goldman forecast the U.S. economy will grow by 2.7
percent in the first quarter, and 2.2 percent in the second
quarter. The U.S. economy grew at a rapid 5.6 percent in the
closing quarter of 1998, a year during which it expanded at
3.9 percent."
goinvest.com
AnN03144409@NEWS-P2&HEADNEWS=TRUE
If the U.S. market falters, the negative effects will be more
profound in the marginal economies in the developing nations.
Much of our economic success depends upon the efficiency of
our financial markets and the allocation of capital into the
sectors that promise the highest return. Some feel the stock
market at current levels is not the most prudent place to put
new money.
Some Prominent Strategists Scale Back Bets On Stocks
by Aaron Lucchetti
"Some of Wall Street's foremost opinion drivers are flashing
a yellow caution light on stocks. While nine of the 13 brokerage
firms participating in The Wall Street Journal's continuing
"asset-allocation" survey held their recommended blend of
stocks, bonds and cash constant during the fourth quarter,
some strategists have scaled back their stock bets as concerns
persist that companies' earnings don't fully justify recent
stock-price gains."
msnbc.com
One of the great strengths of our economy is the reduction of
barriers to the flow of capital. The capital gains tax was
cut a couple years ago and the rate of turn over of capital has
increased significantly. The second powerful influence is the
increase in individual investors trading over the internet.
The increased volume of internet trades reflects large amounts
of capital flowing at very low costs at light speed. This is not
only a positive change for individual investors, it represents
a more efficient mechanism for the allocation of billions of
dollars. The internet is also improving the availability of
information about the small rapidly growing companies most in
need of funding for expansion.
Small Investors May Get 24-Hour Trading
by Bloomberg News
"Now that huge numbers of investors have become accustomed to
trading from their desktop computers, their next step may be to
trade online around the clock. At least two firms plan online
stock markets that let small investors trade shares among
themselves after the regular market closes, just as professional
money managers do."
news.com
Surge In Online Trading
by Reuters
"Frenetic trading in Internet stocks pushed up online trading
volumes as much as 50 percent in January, after a 34 percent
rise to a record 340,000 trades a day in the fourth quarter,
according an analyst with CS First Boston."
wired.com
Elevator.com Matches Start-ups With Money
by @NY
"Garage.com, a Silicon Valley-based company, recently garnered
a lot of attention for its Web site, which tries to match up
angel investors and VCs with fledgling companies and their
business plans. Now an entrepreneur here in Silicon Alley is
following Garage.com with the Elevator (www.thelevator.com),
a Web site that plays matchmaker between start-ups and
investors."
thestandard.com
New Startup Plays Matchmaker
by Georgie Raik-Allen
"The founder and CEO of Batterson Venture Partners and managing
general partner of Batterson, Johnson & Wang, Mr. Batterson has
launched his own startup, Venture Capital Online (VCOL), to
automate the front-end process of raising venture capital. "
herring.com
The Fed did not take any action with regard to interest rates
as expected. Many speculate that the Fed's next move may be to
raise interest rates to calm our economy down. Europe is faced
with a much different scenario.
Rate Debate In Europe
"Bank of England set to lower rates, but ECB hamstrung by
weak euro."
cnnfn.com
May all your longs go up and your shorts bankrupt.
Alex von Streeruwitz, CMFC
Editor
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