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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (28183)	2/12/1999 5:39:00 PM
From: Henry Eichorszt	Respond to of 70976

...Trading in Applied Materials options was brisk, with implied volatility holding at about 90 percent for the February 70 contracts, ahead of the company's earnings report on Tuesday. "Vols are up dramatically. They've been steadily climbing all week," market maker in Applied Materials options said. "People seem to think (results) will be good," he added. Applied Materials was expected to report a per share profit of $0.02 to $0.08, with a mean estimate of $0.06, a First Call survey of 24 brokers showed. 17:26 02-12-99

To: Proud_Infidel who wrote (28183)	2/13/1999 12:15:00 PM
From: Tony Viola	Respond to of 70976

Brian, >>>Thomas Kurlak has resigned from the Wall Street firm to join the Tiger Management hedge fund run by Julian Robertson Jr...... Anyone know if you can short a hedge fund?<GGG><<< Nothing to do with Kurlak (but good riddance anyway!), a fund manager in whose strategy I believe. From the Cisco thread, which has a total Cisco bear that seemingly spends all his waking minutes trying to talk down that stock. Anyway, AMAT right there in the high fours (%) with a couple of other market leaders. Excerpt from Barron's Winning Big Why TCW's Glen Bickerstaff loves the stock market's generals By BARRY HENDERSON So the market is being driven by a smaller and smaller group of stocks with huge valuations. Glen Bickerstaff isn't worried. In fact, he sees a certain logic to this "winner-take-all" phenomenon -- and he's betting big that it will continue. Bickerstaff, who runs the TCW Galileo Core Equity fund, contends that the best companies in almost any industry are extending their lead and that those with a true competitive edge deserve a healthy share-price premium. The best companies are seriously competitive outfits getting a lift from deep-seated changes in the economy and consumer behavior -- "secular changes," in Wall Street-speak. "That's why I own Intel, not Advanced Micro Devices; it's why I own Dell Computer, not Compaq," he says. That's a nice explanation -- maybe even a rationalization -- for owning the generals of the market like Cisco Systems, Microsoft, Dell and Intel. But doesn't Bickerstaff risk falling in love with momentum-powered highflyers that quickly could crash back to earth? The fund manager thinks his fundamental analysis provides a safety net. Top 10 Holdings Company Percentage of Portfolio Cisco Systems 7.3% Dell Computer 7.2 Charles Schwab 6.3 Home Depot 5.5 Intel 4.9 Microsoft 4.9 Applied Materials 4.7 Mirage Resorts 4.4 Kansas City Southern 4.1 Progressive 3.9 Total 53.2 For now, Bickerstaff is betting on companies like Cisco -- which accounts for the fund's largest single position (7.3%, according to the most recent available data) -- Dell and Lucent Technologies, which all make computer or telecommunications devices that power the 'Net. -------------------------------------------------------- Comments: Another idiot who doesn't pay attention to jach, the most influential network analyst on SI. This guy obviously didn't do his homework. Otherwise he should have owned COMS and FORE.

To: Proud_Infidel who wrote (28183)	2/14/1999 2:30:00 AM
From: SMALL FRY	Respond to of 70976

Re: Thomas Kurlak: according to CNBC, Merrill Lynch's highly influential semiconductor analyst Thomas Kurlak has resigned from the Wall Street firm to join the Tiger Management hedge fund run by Julian Robertson Jr...... Anyone know if you can short a hedge fund?<GGG> Kurlak the Savior? And they think they got problems now... WSJ: Heard on The Street 02/11. Roberson Tiger's Hedge Funds are Bloodied by Market's current Momentum Approach. The rebound of the YEN against the dollar at the end of 1998 brought down the portfolio of Tiger Funds 3.9%. In january 1999,the momentum of the market took away $670 millions or 4.8% of the $14 billions while the S&P rose 4.2%. Juliam Roberson blamed this on the investors who do not care about value and price: it is a momentum market where nobody cares about value. He pointed that the Russell 1000 growth subindex jumped 5.9% compared to 0.8% for the Russell 1000 value subindex. The peak of Tiger funds was $20 billions and fell to $14 billions due to the falling of value investments. As of Jan 31, 1999, the TEN largest stock holdings are: Carnival Corp, Costco Cos, Federal-Mogul Corp, Morgan-Stanley Dean Witter, Royal Bank of Scotland, SBC Communications, Sealed Air Corp, Tricon Global Restaurant Inc, UPM Kymmene Oy( Finland) and US Airways. Tiger held 18.2 millions shares of US Airways as recorded on Sep 30,98. US Airways rising to $64 on Jan 8 but since then falling to $49.75 on Jan 28. Another laggard for this fund is Bowater. Tiger owned 8.7 millions shares. Roberson still believes that this stock will double its current price of $37.