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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (11301)	1/4/1998 8:16:00 AM
From: John Carragher	Read Replies (2) \| Respond to of 77400

some notes from washington post article. rollins says cisco will make their number. There's definitely no clear consensus" on earnings, said Blaine Rollins, manager of the Janus Equity-Income Fund. "The risks and the worries on my end have definitely gone up." Rollins's fund returned 31.1 percent in 1997 as bets on financial services stocks, including Swiss Life and Charles Schwab, and no exposure to Asia proved winning choices. For 1998, Rollins is lightening his exposure to the banks and increasing his bets on pharmaceutical companies and technology. The manager thinks that falling interest rates could hurt the profit margins of the banks. Conversely, in a lower interest rate environment, investors will want to pay more for high-quality earnings streams such as those Rollins thinks will come from premier technology stocks and the drug companies. "I know Cisco [Systems] is going to make their numbers," Rollins said. "And Microsoft is just one of the greatest businesses in the world."