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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: hitesh puri who wrote (10361)	10/19/1999 8:57:00 PM
From: Mr.Fun	Read Replies (4) \| Respond to of 21876

comments: 1. I run a tech fund. As such, my decisions are based specifically on whether I can beat the S&P tech index. We are slightly ahead Ytd, and we would be way ahead if LU hadn't tanked in July. 2. We are significantly overweight in the networking sector, and have been specifically overweight in the big three stocks LU, CSCO, NT. In recent weeks I have been selling NT to buy more LU, and yes after the last earnings I went from market weight to overweight in CSCO. 3. The game in this business is to be approximately market weight in the biggest tech names and then play 10-20% over or under weights, while taking flyers on smaller names like JNPR which has made us a ton of money. 4. As such, it is not at all inconsistent for me to hold multiple names in both overweight and underweight positions. I will not tell this board about specific trades or exact positions, and limit myself to commenting on just a few stocks. 5. I do think LU is better positioned than Cisco given my observations about the realities of the carrier market. Certainly, alot of the street thinks the reverse, but frankly the consensus is often very wrong. However, I do think that all three of LU, NT and CSCO will do very well - this is not a three-way zero-sum game. 6. Finally, hedge fund rumor mongering need not be based in truth. Sometimes it is, and sometimes it isn't. Those trading on fundamental analysis need to do their homework to decide.