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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: delmarbill who wrote (19775)	3/24/2000 10:36:00 AM
From: signist	Read Replies (1) \| Respond to of 42804

DJ Fund Manager Wrona by: bidxoask 3/24/00 8:55 am Msg: 7167 of 7174 =DJ Fund Manager Wrona Sees Opportunities In Volatility NEW YORK (Dow Jones)--The trading is fast and furious at the PBHG Technology Fund, says Jeff Wrona, co-portfolio manager of this $3.8 million fund. The fund, which has a 48% year-to-date return, also has a 300% a year turnover rate or an average holding period of just four months for a stock. "Volatility creates opportunities, which creates more turnover," Wrona told CNBC Friday. "Most of the trades that occur in the fund are occurring because of opportunity costs, not because of disappointments." The PBHG Technology Fund follows one basic principle. "We look for business momentum," Wrona said. "And so the one simple question we ask ourselves is: Are business conditions getting better or worse then where they recently have been?" If the answer is better, he buys, and if it's worse, he sells. But if it's in the middle he starts looking for a better opportunity. Wrona said he particularly likes Internet infrastructure companies, especially optical-based companies. While most people focus on JDS Uniphase Corp. (JDSU) and SDL Inc. (SDLI), he also likes the lesser known Ditech Communications Corp. (DITC), arguing voice over digital subscriber line will be "a big marketplace for them." Wrona also mentioned MRV Communications Inc. (MRVC), an incubator for Internet infrastructure start-ups, He said it has six or seven companies likely to have initial public offerings in the next year, and some could have market values on par with the mother company. The portfolio manager offered Avanex Corp. (AVNX) as his final pick, arguing it's one of the best companies in its group but its stock has been beaten down. - Riva Richmond; Dow Jones Newswires; 201-938-4046 (END) DOW JONES NEWS 03-24-00 08:50 AM- - 08 50 AM EST 03-24-00 Via Yahoo messages.yahoo.com