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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: R. Jaynes who wrote (12642)	3/5/1999 1:25:00 PM
From: R. Jaynes	Read Replies (1) \| Respond to of 26039

All, Off topic - sort of. From a recent letter from Foster Friess of the Brandywine Fund. As we all know small stocks as a group have not done well. Here's what he says - "Excluding America Online, which accounted for 82 percent of the S&P 400 MidCap's gain in value, the $11 billion increase in the other 399 stocks comprising the index represents a mere 1.5 percent gain. Stocks among the 5,000-plus companies that comprise the Nasdaq Composite with trailing PE's below 25 at year-end 1997 fell 3 percent in 1998. The median stock declined 11 percent. Sixty-four percent of the stocks declined. The Russell 3000, which comprises 98 percent of the U.S. equity market, revealed that the 1,581 stocks selling under 25 times earnings increased only 1.1 percent. The median stock dropped 3.1 percent. Fifty-four percent of the stocks show losses. These studies and another illustrating the narrowness of S&P 500 gains....suggest that reasonably priced growth companies are overdue for stock-price appreciation." Rick