Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Range Bound & Undervalued Quality Stocks -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (4688)	8/15/2001 1:29:47 PM
From: Esway	Read Replies (1) \| Respond to of 5499

Nasdaq acts as though it wants to retest below 1900. Each and everyday a slow slow slow bleed lower. Hope things are going well for you Jake.

To: JakeStraw who wrote (4688)	8/15/2001 1:42:54 PM
From: Esway	Read Replies (1) \| Respond to of 5499

Lets see I always thought it was buy low sell high....according to these professionals in this article it is buy higher sell lower. Guess it is a little easier to do with other people's money. I like the sound of it though just throw in the towel sure that will look stupid in years to come. <<Janus Cuts Some Tech Funds for Safe Bets By Christopher Noble BOSTON (Reuters) - Janus Capital Corp., the mutual fund giant whose performance has tumbled amid the meltdown in technology stocks, sharply cut its holdings in bellwether tech companies in the second quarter, regulatory filings showed on Tuesday. Janus funds cut their holdings in Cisco Systems Inc. (Nasdaq:CSCO - news), EMC Corp. (NYSE:EMC - news), Oracle Corp. (Nasdaq:ORCL - news) and Sun Microsystems Inc. (Nasdaq:SUNW - news), the so-called ``four horsemen'' of the Internet that helped drive the expansion of the new economy in the late 1990s. Janus, a unit of Stilwell Financial Inc. (NYSE:SV - news), eliminated its holdings in handheld device maker Palm Inc. (Nasdaq:PALM - news) and chip maker Intel Corp. (Nasdaq:INTC - news) and sold most of its holdings in JDS Uniphase Corp (JDU.TO), the fiber-optic components maker which last month reported the largest corporate loss in North American history. The fund firm added to its positions in financial firms including Citigroup (NYSE:C - news) and Lehman Brothers Holdings Inc. (NYSE:LEH - news), drug firm Pfizer Inc. (NYSE:PFE - news), hotel and car-rental operator Cendant Corp. (NYSE:CD - news) and retailers such as Walgreen Co. (NYSE:WAG - news) and Costco Wholesale Corp. (Nasdaq:COST - news). The growth stock specialist doubled its stake in Berkshire Hathaway (NYSE:BRKA - news), the holding company of value investing guru Warren Buffett (news - web sites). ``It looks like more of the same,'' said Christine Benz, an analyst with fund tracker Morningstar Inc. ``They're continuing to add ballast with some of the financials continuing to be pretty big holdings.'' The filing does not reveal which Janus funds changed their positions. Overall, the value of Janus's stock holdings rose to $141.05 billion at the end of the second quarter, from $127.85 billion at the end of March. In another filing Tuesday, No. 1 U.S. fund firm Fidelity Investments disclosed that it boosted holdings in companies such as Microsoft Corp. (Nasdaq:MSFT - news), EMC and biotechnology firm Amgen Inc. (Nasdaq:AMGN - news) at the end of the second quarter, while reducing its stakes in chip maker Texas Instruments Inc. (NYSE:TXN - news) and Oracle. ``I still see a fairly defensive, old-economy oriented group of stocks,'' said Jim Lowell, editor of Fidelity Investor, a newsletter that tracks Fidelity funds. Microsoft and General Electric Co. (NYSE:GE - news) remain Fidelity's biggest holdings, he noted. Fidelity's stock holdings were worth about $500.5 billion at the end of the second quarter, up from $450.1 billion at the end of the first quarter, according to the filing. The company's $84 billion Fidelity Magellan portfolio (Nasdaq:FMAGX - news) is down roughly 9.1 percent year to date, according to Morningstar. TECH SLASHED Janus funds, which rose to prominence in the 1990s as their big gambles on technology companies paid off, have suffered in the last 18 months in the aftermath of the burst tech bubble. The flagship $31 billion Janus fund (Nasdaq:JANSX - news) is down 18.9 percent so far this year after losing 14.9 percent in 2000. A spokeswoman for Janus declined to comment on any of the moves, but said the company had not changed its approach to stock picking. ``We continue to go company by company,'' said spokeswoman Shelley Peterson. Janus dumped nearly 67 million shares of Cisco in the second quarter, cutting its position to about 41 million shares from about 107 million at the end of the first quarter. That followed the sale of 76 million Cisco shares in the first three months of the year. The fund firm slashed its holding in EMC to 46 million shares from about 64 million, the filing showed. Janus also chopped 49 million shares from its holding in Sun Microsystems, bringing its stake to just over 18 million shares. Janus sold 2.1 million shares of Oracle, lowering its holding to 5.6 million shares from 7.7 million at the end of the first quarter.>>