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Technology Stocks : Ultratech Stepper -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (2475)	5/26/1998 9:28:00 PM
From: Bill Shepherd	Read Replies (1) \| Respond to of 3696

justa...here is the URL for Chad Fasca's article entitled "Ultratech's Dilemma" in Electronic News: electronicnews.com Any thoughts on UTEK's sub-20 price? Time to buy more? Regards...Bill S

To: Justa Werkenstiff who wrote (2475)	5/28/1998 1:16:00 PM
From: Joe Dancy	Read Replies (3) \| Respond to of 3696

Was looking for the Electronic News article you referenced and ran across this gem Justa - this guy is down 24% this year so I'm glad he is short UTEK :) ******* Copyright 1998 International Herald Tribune International Herald Tribune (Neuilly-sur-Seine, France) May 16, 1998, Saturday The View From Outside the Bubble; Q & A / David Tice, Prudent Bear Fund Manager By Conrad de Aenlle; International Herald Tribune DAVID TICE manages the Prudent Bear Fund, a U.S. mutual fund that seeks to profit in rising as well as falling markets by either owning or selling short stocks, depending on whether Mr. Tice thinks equities are under- or overvalued. His net position is short these days, and he has had no trouble finding stocks that he thinks are overvalued. Yet the market has not cooperated with his contrarian position, and the fund is down 24 percent so far this year. Mr. Tice discussed the market with Conrad de Aenlle........ Q. What kinds of stocks make the best short-sale candidates? A. We are careful in the stocks that we short. We don't make pure valuation shorts, only companies that are experiencing deteriorating fundamentals or where we have a strong view that the company will fail to meet earnings expectations. Q. What are your biggest short positions now? A. Many of our shorts are in high technology. Three of our biggest are Ultratech Stepper, CDW Computer and Novellus. We believe that there is far too much capacity in all areas of high tech and that margin declines are in store for the entire industry. We believe that semiconductor-equipment makers like Ultratech and Novellus will be especially hard hit, as there will not need to be new capacity built for semiconductors for some time...... Best - Joe