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Technology Stocks : Oclaro, Inc. (Avanex-Bookham) -- Ignore unavailable to you. Want to Upgrade?

To: Victor Lazlo who wrote (1924)	8/17/2001 3:18:25 PM
From: lightwave51	Respond to of 2293

As an example of how things can look much worse today than they did just yesterday, one of our analysts recently spent a day with the CEO of AVNX, one of Gilder's telecosm companies. They have brilliant management and technological leadership, and market dominance in their optical networking equipment. Nevertheless, the CEO was quite gloomy about the prosects for any near-term recovery in optical networking. We believe in this company, their technology and their management. Nevertheless, we feel at this point we have no choice but to sell it. We hope to buy it back at some point in the future when it's clearer that business is picking up on a sustainable basis in the optical networking sector. But right now the CEO fears that things may get even worse than the market thinks. We aren't sticking around to find out just how much worse. ipsfunds.com