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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (18626)	2/5/2004 11:04:44 AM
From: puborectalis	Respond to of 78519

Investor's Business Daily Its Web Traffic Gear Is Back In Fast Lane Thursday February 5, 10:29 am ET By Mike Angell The lessons of the dot-com bubble aren't lost on F5 Networks Inc. (NasdaqNM:FFIV - News) The Seattle-based company makes hardware and software to speed Web traffic. Its gear helped power Web pages for EToys.com and HomeGrocer.com, among other firms. Some of those businesses disappeared, and so did F5's profit. So the company went into turnaround mode. It lowered costs for building and selling its products and looked for new markets. "It was difficult to get top-line growth," said F5 Chief Executive John McAdam. "We spent the last two years cleaning up the business and . . . looking at cost of product." F5's hardware and software balances Web site traffic between different computers. When too many people log on to one Web page, F5's switches put some of that traffic onto other computers. This was considered a hot market in 2000 - so hot that F5 found itself competing against tech giants such as Cisco Systems Inc. and Nortel Networks Corp. F5 has still managed to gain market share. In the third quarter of 2003, it had a 12.9% market share vs. 8.7% at the end of 2002, according to Synergy Research Group.

To: Spekulatius who wrote (18626)	2/10/2004 9:58:48 AM
From: Spekulatius	Read Replies (2) \| Respond to of 78519

Portfolio update PRCP and WTU bought PRCP a competitor of FARO, but at a much lower valuation. finance.yahoo.com + P/B: 1.3 + P/E 14 + 17M$ cash, no debt + neglected + growth potential due to introduction of new products - stagnating revenues (trough comparison to last years strong order flow) - market share losses to FARO ? - depended on car industry - micro cap I established a starter short position in WTU. Overvalued gas royalty trust, IMO. I see that BPT is rising again, so I may short it again to hedge my longs in the E&P sector.