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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: James Burke who wrote (23240)	7/9/1999 4:11:00 AM
From: Kerry Lee	Respond to of 29386

Ancor featured in Friday's Investors Business Daily article: Making Money in Mutuals (07/09/99) Investors Rediscover Kern's Forgotten Micro Caps By Dan Moreau Selected Excerpts from the Article/Interview: <<Among the top performers in the sector, Fremont U.S. Micro-Cap is up more than 40% this year. The $179 million fund soared 32.85% in the second quarter alone. For manager Robert Kern, it's a welcome turn of events after lagging the S&P 500 index in 1997 and 1998. The fund carries a B grade from IBD, as its 69.6% return in the 36-month period ended June 30 beat 78% of all funds. Kern, 63, is a veteran manager with three decades of experience following micro-cap stocks. He talked to IBD about the sector's resurgence.>> << IBD: Buying into small companies can be tricky for a fund that needs to buy a substantial number of shares of a stock in order for it to have an impact on performance. Are you a stealth buyer? Kern: If we do our homework, and we do, we gain confidence and want to take a significant position. You can't do that in a few months. Patience is important. Trading experience helps. What we are waiting for is a block of stock going to trade. We tie in with the broker we think can do the best job of finding that block.>> << IBD: Let's talk about top holdings in the portfolio. Kern: Our top holding is Emulex. The company makes network access servers for the Internet. It was completely unrecognized last fall when we bought it. (Shares were $6 a year ago and recently traded at $105.) Ancor Communications is another large holding. It makes switches and integrated circuits. We were waiting for a major contract, and they did get it from Sun Microsystems, so we immediately aggressively bought a position. (Shares have jumped from $7 in May to a recent $36.) We've owned Orckit Communication since 1996. It makes telephone digital transmission products. (Share prices have doubled in the last six months to a recent 25.) You can see that tech has played a significant role in the fund's performance.>> I am reticent to copy/paste the entire article in order to avoid litigation. Anyone who wants the whole story should either buy Friday's Investors Business Daily OR subscribe to America Online.