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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Judith Williams who wrote (38074)	1/17/2001 10:53:47 AM
From: Bruce Brown	Read Replies (3) \| Respond to of 54805

Alcatel is building the new submarine network to connect Asia. JDSU should benefit along with Juniper since Alcatel is a 10% customer and growing and at present only SDLI and JDSU are qualified to sell critical products into this market. Scott Kriens is a piece of work. He shoots straight and his targets are deadly. Yes, there is good management at all of those companies mentioned above. I liked your posting of the comments that Kriens had last night to Ron Insana about selling products to network builders and not to Wall Street analysts. The BEA Systems CEO had similar words in regards to a recent analyst's comments (which included a downgrade) about what the company is seeing as opposed to what that analyst was seeing. In spite of it all, we simply try to invest our money in the best positioned companies going forward. Plenty of talk today about "closing above that technical trendline of 2700 blah, blah, blah, blase....". In the long run, we can forget about all of that. It's been a difficult process over the past few months for all of us, but this is what a market goes through at an inflection point such as the FED created. We can't rewind to one year ago and we can't fast forward to a year from now. However, the longer term investing of gorillas/kings does require patience. We are all well aware of how 'impatient' one can get in light of the recent move in the market since September. It takes years for companies to develop a dominant franchise. Yes, we saw a historical drop in the Nasdaq from the spring of 2000 to the beginning of January. Through that drop, all of the companies we follow on this board chipped away at their brand building and dominance in each of their segments - regardless of what the open auction system of what the market says the shares are worth at any given time. A lot of the lower tier froth companies that had attracted venture capital money will not make it going forward. This gives the benefit of making the top tier franchise companies that dominate their niches in high technology even stronger going forward as that froth is 'worked out of the system'. It's no surprise that most of these top tier companies - be they mature, middle age or young - do have top management teams. BB