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To: Jim Oravetz who wrote (4618)	12/22/2000 1:14:32 PM
From: Jim Oravetz	Respond to of 10714

WSJE:Heard In Europe:Cohodes Is Part Hulk Hogan, Peter Lynch By JESSE EISINGER Marc Cohodes is a big fan of Abdullah the Butcher, a professional wrestler. That may help explain Mr. Cohodes's investment tactics. The 40-year-old money manager, a general partner in the New York hedge fund Rocker Partners LP..... ....One of Mr. Cohodes's current targets is Cree Inc., a maker of semiconductor materials based in Durham, N.C. He argues that Cree relies on dealings with related parties, such as Charles & Colvard Ltd. That maker of fake diamonds is based close to Cree and until May was run by the brother of Cree's CEO. Mr. Cohodes also says the company has off-balance sheet research and development costs and that the company's revenue is "vastly overstated." He thinks the company shies away from answering the substance of the critics' arguments: "When a company doesn't address the questions and only addresses the messenger, 99 times out of 100 it's a sign of major trouble." Cree's chief financial officer, Cynthia Merrell, responds: "Frankly, I don't believe he knows the Financial Accounting Standards Board definition of what a related party is. We have no related-party transactions." She says Cree's accounting for R&D expenses is proper. Jim