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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (17985)	11/20/2000 12:09:15 PM
From: stockman_scott	Read Replies (1) \| Respond to of 65232

Greg: What's your view on ORCL now? Paine Webber doesn't seem to like it much anymore. It's amazing how the sentiment on this stock has changed so quickly...fyi.. Paine Webber's Kerschner and His Fund Sour on Oracle By Ian McDonald Senior Writer TheStreet.com 11/20/00 11:52 AM ET <<A Wall Street oracle has dropped the software titan of the same name from his list of favorites, which means it's also coming out of his big, sagging growth fund. After a spate of high-level departures, softwaremaker Oracle (ORCL:Nasdaq - news) was down some 15% in Monday morning trading. At the same time, PaineWebber Chief Global Strategist Ed Kerschner dropped the stock from his Highlighted Stocks list. The move doesn't just mean the stock isn't far from the guru's heart, it also means it will soon to leave the PaineWebber Strategy fund's portfolio too. That's because the broker-sold fund, which raised a record $2.1 billion in a six-week subscription period last year, is designed to hold the growth stocks on Kerschner's Highlighted Stocks list. As of Aug. 31, the most recent portfolio data available, some 3.5% of the fund's assets were invested in Oracle, making it the fund's fifth-largest holding, according to Morningstar. The fund sells stocks after it's announced that they're off the list, according to its prospectus. Of course, shareholders might say much of the damage has already been done: Oracle was only up some 3% on the year before today's selloff. The fund, launched with much fanfare, has lost 26.2% since Jan. 1, trailing the S&P 500 index by more than 20% and ranking in the bottom 2% of large-cap growth funds, according to Morningstar. Of course, plenty of the fund's peers are also getting hit by Oracle's tumble. The stock was in more than 50% of big-cap growth funds on Oct. 31, according to Morningstar.>>