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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (2209)	8/29/1998 4:18:00 PM
From: Ian@SI	Respond to of 6439

Here's hoping Orphanos has his hot hand back... A lot was at stake with Growth & Income. It was that fund, under Orphanos's direction, that put Warburg on the map for individual investors. Through an unconventional investing style in which he picked out-of-favor sectors that would emerge as the new market leadership, Orphanos beat the market handily in the tough years between '92 and '94 in investments in health care, precious metals and technology. In its greatest year, 1993, Growth & Income returned 35.8%,, compared with the S&P 500's 10% and was the No. 1 fund in its group. Unfortunately, Orphanos's hot hand turned cold. What worked in difficult markets abandoned him in good times; the fund lost a cumulative 41% in 1995-96 as the market roared to gains of 37.58% and 22.96%, respectively. Moreover, assets in Growth & Income had ballooned from about $25 million in the early years to $625 million in 1994 and $1 billion in 1995. Besides its strong early track record, the fund pulled in a lot of assets as one of the initial offerings of the Schwab OneSource program which got off the ground in 1992. Orphanos, referred to as a "Greek Marty Zweig with more hair" by one financial adviser, hasn't lost his enthusiasm for the business, despite the comedown. And he recently made the first meaningful stock purchase in his new position: Philip Morris Cos.

To: Rarebird who wrote (2209)	8/30/1998 8:42:00 PM
From: Tony D.	Read Replies (1) \| Respond to of 6439

Off topic - Rarebird I was wondering if you noticed that on Friday it was announced that RN would be added to the S&P 500 index. Usually news like that is good for a 15% pop but RN actually traded down on Friday. Volume was a little heavier than usual (about 1.5 times) but not enough to say to me that ALL of the index funds had bought in. Curious if you see a short term play for Monday morning assuming the overall markets is stable to rising. Thanks, (& thanks for the excellent info you have posted!) Tony D.