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.

Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lee who wrote (44954)	4/20/1998 2:59:00 PM
From: gbh	Read Replies (1) \| Respond to of 61433

Mention of ASND from TSC... Fund Watch Features: Rukeyser Conference: Talking Stocks with Friess, Gabelli, Cohen and More By Dagen McDowell Senior Funds Writer 4/20/98 10:02 AM ET LAS VEGAS -- Somewhere Sammy Davis Jr. is crying. In the town where Sammy, Dino and Frank once held court, Abby Joseph Cohen, Foster Friess and Mario Gabelli were the big ticket in Las Vegas this weekend at Louis Rukeyser's annual investment conference. A Vegas audience always wants to hear the greatest hits. Here's what a few members of Saturday's first panel served up to the crowd. Foster Friess Friess, manager of the Brandywine fund, talked more about companies that he is avoiding than ones he likes. That's not a huge surprise coming from a manager who sold off most of his tech stocks late last year and moved 70% of his fund's assets into cash due to concerns over Asia's impact. Friess has since shifted some assets back into technology names, but he continued to voice his worries. "We've reduced cash to about 30%, but I'd be very, very careful," he warned. (That cash position is down from almost 44% at the end of the first quarter.) "Compaq (CPQ:NYSE) ain't earning anything. Neither is National Semiconductor (NSM:NYSE)," he said during the panel discussion. As for big names, on Lucent (LU:NYSE), GTE (GTE:NYSE) and IBM (IBM:NYSE), Friess says: "Their growth rates don't meet our bogey." Friess declined to predict the direction of the Dow but expects "the burst of the Internet bubble within the next year." He is avoiding Internet stocks like the plague. Talking about the fact that Yahoo! (YHOO:Nasdaq) is trading at 160 times 1999 earnings estimates, he said: "This is what we're scared about." He also mentioned Amazon.com (AMZN:Nasdaq), Lycos (LCOS:Nasdaq), Excite (XCIT:Nasdaq) and Infoseek (SEEK:Nasdaq) as companies with no earnings. To which Gabelli chimes in, "Foster, is that your wish list?" Friess did point out one tech stock he likes: Ascend (ASND:Nasdaq).