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Technology Stocks : America On-Line: will it survive ...?
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To: James F. Hopkins who wrote (2291)3/9/1997 8:21:00 AM
From: jack rand   of 13594
 
Excerpt from NY Times (free subscription required)

04/09/97 4 Mutual Funds Managers Who Lagged Behind S&P's 500-Stock Index

James E. Crabbe, a co-founder of the contrarian fund family Crabbe
Huson "We had done really well with Special in a small-cap style,"
recalled Crabbe, who has managed Crabbe Huson Special since 1988;
.................
Crabbe was--and still is--stumped by the turn of events
because he remains convinced that many stocks are overvalued,
including America Online, which he began shorting in the first
quarter last year and in which he still holds a short position.
"I've been shorting all my career, but I've never seen how the
sheer power of money flows overwhelms all else," he said. "We
couldn't know this, but we're paid to know this. Frankly, I've been
dead wrong."

nytimes.com
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