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IN THIS ISSUE
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1) Market News
2) Technology
3) Personal Finance And Mutual Funds
4) Y2K News and Analysis
5) Events That Could Move The Market In Coming Weeks
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MARKET NEWS
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In Case You Missed It: A summary of the market on Tuesday.
cnnfn.com
Stocks In The News And On The Move:
bloomberg.com
quicken.com
Market Wrap Up.
Which sectors were strong? Which sectors were weak?
briefing.com
What Have Insiders Been Up To?
Includes an analysis of INSIDER SELLING by Intel executives.
cda.com
Recent Commentary From Newsletter Writers
marketrap.com
News That Could Affect Particular Stocks Tomorrow:
Check Up-The-Minute Reuters Economic And Financial News
goinvest.com
bloomberg.com
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TECHNOLOGY
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For Hot Stocks that are moving the markets:
goinvest.com
Forbes ASAP Lists The Top 100 Dynamic Companies - In their opinion
forbes.com
What really impressed me about the Forbes article was dominance of US
companies in their list. I have compiled some more articles that reflect
upon the competitive position of the US in the information age.
Much of Europe's economic base is industrial and manufacturing. The
European Union will have to step up efforts to adopt new technologies to
adapt to the future global economy. Unfortunately, they do not seem eager
to change.
Europe Execs Wary Of E-commerce
by Tim Clark
"European executives remain hesitant about jumping into e-commerce
initiatives, according to a new report from Andersen Consulting... In a
survey of more than 300 European senior executives, Andersen found corporate
leaders enthused about e-commerce's potential but wary about moving quickly
to spend money on new systems."
news.com
In sharp contrast to European business executives, US counterparts are will
to leave comfortable executive positions at established blue chip companies
and head up new tech firms.
SAP Exec Quits To Run Start-Up
by Jeff Pelline
"SAP America chief executive Paul Wahl is resigning to lead a Silicon Valley
start-up company, another example of a corporate high-technology executive
becoming more of an entrepreneur."
news.com
HP's Watts To Head Start-Up
by Sandeep Junnarkar
"A longtime Hewlett-Packard executive, Watts resigned last week from the
59-year-old blue-chip company, which some describe as embattled, to join
ConvergeNet--a San Jose, California, start-up that was launched earlier this
year."
news.com
Technology products in the US continue to fall in price and improve in
quality. The widespread use of new, improved, and cheaper technology will
give our economy's competitive position an extra boost.
Handhelds, Cellular Phones Meet Halfway
by Ephraim Schwartz
"Corporate road warriors are about to witness an explosion of information
appliances that meld the features of cellular phones and handheld computers.
But whether these hybrids meet end-users' needs, or those of the technology
managers responsible for their care, remains to be seen."
infoworld.com
Low-Income Folks Buying PCs
by Tom Dunlap
"Low-income households, enticed by the lure of low-cost PCs and the
Internet, will be the leading source of first-time PC buyers in 1999."
news.com
Even the huge blue chip companies continue to innovate and enter new
segments within the technology sector.
NBC Is Old Media, But Its Web Plans Are Real Smart
by Marc Gunther
"The network's Internet strategy rivals the best of 'em. And thanks to the
magic of Web economics, NBC is rolling it all out practically for free."
pathfinder.com
How Cisco Mastered the Net
by Shawn Tully
"You think Amazon.com is big? The real money online is business-to-business
sales, and the king of routers is writing the manual."
pathfinder.com
Some New Signs Of Recovery On Beleaguered DRAM Front?
Wall Street Journal
"The troubled memory-chip industry showed signs of straightening itself out.
Chip makers world-wide have been hurt by the economic downturn in the
Asia-Pacific region and reduced demand from computer makers."
msnbc.com
US businesses continue to invest in productivity enhancing technology.
IT Managers Bullish Despite Stock Market Dip
by Marianne Kolbasuk McGee
"Senior IT executives remain bullish about their business prospects for 1999
and plan to boost spending accordingly. An InformationWeek Research survey
conducted last week of 100 IT executives involved in budgeting found 82
percent expect 1999 will be better for their businesses than 1998."
techweb.com
Unlike some countries, we also benefit from intellectual property rights,
the rule of law, and a competitive business environment.
Sun, Microsoft to face off over Java
by Miguel Helft
"Computer industry titans Microsoft Corp. and Sun Microsystems Inc. will
face off in a San Jose federal courtroom this week in their bitter dispute
over the popular Java programming language.
At stake in the year-old contract wrangle is the future of Java, a language
Sun created to become a unifying force in the computer industry."
mercurycenter.com
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PERSONAL FINANCE AND MUTUAL FUNDS
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The 50 Best Stocks In A Tough World
by Jim Jubak
investor.msn.com
Top 100 Stocks For All Seasons
In case you missed the Labor Day Special on CNBC.
msnbc.com
Best Vanguard 401(K) Funds
Smartmoney picks some Vanguard funds by asset category.
smartmoney.com
Small Business Retirement Plans
A summary of different options for small businesses and the self-employed.
smartmoney.com
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Y2K SITES OF THE WEEK
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Some Mixed News This Week
Federal Y2K Progress Report Not Good
by Declan McCullagh
cgi.pathfinder.com
Lawsuit Could Set Crucial Year-2000 Precedent
by Blaise Zerega
"By asking a Massachusetts State Superior Court for a declaratory judgment
against retailer J. Baker Inc., Andersen Consulting fired the first salvo in
what many lawyers say will be a full-scale war between vendors and companies
over the year-2000 problem. This case may either intimidate companies from
suing vendors, or it may trigger a barrage of similar lawsuits."
infoworld.com
An Australian Perspective On The Legal Front
Legal Action Possible Over Y2K
by Stan Beer
"Software vendors who are unable to provide year 2000-compliant upgrades to
customers may be forced to pay for replacement products from competitors,
according to a Y2K legal specialist."
afr.com.au
A Criticism Of The Alarmist/Doomsday Scenario
Y2K: What, You Worry?
"If your coffeemaker thinks it's 1900, who cares?"
currents.net
How Some of The Pessimists (Maybe Realists?) Are Reacting
Year 2000 Bug Scares The Masses
By David E. Kalish / Associated Press
Sure, it's just a software bug. But to some anxious folks, the Year 2000
computer problem may well be the next cataclysm of biblical proportions.
detnews.com
A Positive Assessment of A Critical Industry
Don't Worry About Y2K, Banks Have It All Under Control
by Kathleen Burke
"In general, the banks are on track toward compliance. That doesn't mean all
banks will perform flawlessly, but it's a vote of confidence. In another
assessment, The Gartner Group, a Connecticut consulting firm, ranked the
financial services industry No. 1 in Y2K preparedness."
amcity.com
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EVENTS THAT COULD MOVE THE MARKET IN COMING WEEKS
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Some Words Of Wisdom
"Never buy a share that you wouldn't be delighted to see the prices fall by
20% the week after you bought it, so you could buy more shares more
cheaply." Warren Buffett
With all this market volatility - 200, 300, 400, 500 point swings - many of
you are probably wondering which direction this market is headed. One
fairly reliable contrarian indicator is the appearance of a bull or bear on
the cover of one or more popular weekly magazines, specifically Businessweek
or Newsweek. Back in the spring, when we first broke through DOW 9000,
Newsweek had a bull with a wedding dress on the cover with the title,
"Married To The Market." The appearance of the Bull coincided with the peak
of the average stock, measured by the advance/decline line.
This week, Businessweek had the following title, "Global Crisis - Time To
Act." But no bear.
businessweek.com
U.S. News & World Report
"Buy, Sell, Sit Tight?"
The Title of the cover does not reflect the gloomy market outlook depicted
on the cover: A dollar bill portrait of a fearful George Washington looking
down at a collapsing stock market chart.
usnews.com
Buy, Sell, Or Sit Tight?
by James M. Pethokoukis and Anne Kates Smith
usnews.com
Time Magazine had an even more ominous cover.
"Is The Boom Over?"
The cover picture depicted people plummeting to their death off a stock
chart
cgi.pathfinder.com
cgi.pathfinder.com
The magazine also had the following special report:
THE BEARS OF SUMMER
Contagion from Asia, Russia and South America threaten the U.S. economy. Can
anyone make the world go away?
While no bears appear on the cover, the magazines certainly take a
pessimistic/bearish stance, so we may be very close to a near term bottom in
the stock market.
The real catalyst to Tuesday's market surge was Alan Greenspan's comments
over the weekend. The market now believes that Mr. Greenspan will provide
liquidity to the economy and stock market if the outlook for the US economy
deteriorates.
Greenspan Indicates Central Bank Moved Away From Tightening Bias
"Federal Reserve Board Chairman Alan Greenspan all but confirmed that the
central bank abandoned its bias toward tightening at its last policy-setting
meeting and admonished fellow central bankers to weigh carefully the
ramifications of recent financial market turmoil."
msnbc.com
Mergers, especially in the financial sector have provided positive boosts to
the market throughout the last few years. A falling market is a deterrence
to further deal making, because the currency used by the buyer (the
company's stock) is less valuable. So the pace of mergers should decline
during this market volatility.
Stock Dive May Force Merger Dealmakers To Sidelines
by Associated Press
"As investors struggle to determine whether turmoil in Asia and Russia will
infect the American economy, the blistering pace of mergers is expected to
cool. 'As long as the market stays very volatile, I think deal activity
generally is going to slow down a lot,' said Rob Kindler, a takeover partner
at the law firm Cravath, Swaine & Moore."
desnews.com
Some Anti-Free Market Reforms In Asia: A Bad Sign
Malaysia Reverses Market Course, Fueling Debate Over Capital Flows
THE WALL STREET JOURNAL
"Malaysia this week dramatically reversed its economic course, fueling a
debate over whether capital should be allowed to flow freely into and out of
countries with immature markets. Declaring that 'the free market has failed
disastrously,' Malaysian Prime Minister Mahathir Mohamad said the country
won't any longer allow its currency to trade outside its borders."
msnbc.com
Hong Kong's Tsang Calls For Global Move Against 'Speculators'
Bloomberg
"Hong Kong, bracing for an extended battle to protect the its dollar, is
calling on governments worldwide to crack down on 'speculation'."
bloomberg.com
Some News On Russia
UK Calls Emergency G-7 Meeting
"Britain calls deputies to London to discuss Russia's economic turmoil"
cnnfn.com
Chernomyrdin Was Rejected Again By The Russian Parliament
cnn.com
Some Ex-Communist Countries That Could Teach Russia A Thing Or Two
Flickers Of Economic Light
"Not all ex-communist countries share Russia's economic chaos. Some are even
functioning, and growing, market economies. What did they do right?"
economist.com
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May all your longs go up and all your shorts go bankrupt.
Alex von Streeruwitz
Editor, GoInvest Weekly
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