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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (31747)	4/25/1999 11:51:00 PM
From: D.Austin	Respond to of 90042

Marsico Says It Sold About $280 Mln Worth of Microsoft Stock Denver, April 25 (Bloomberg News) -- Marsico Capital Management founder Thomas Marsico said his firm sold its entire $280 million stake in Microsoft Corp. last week, citing its stock price and concern about its place in the development of the Internet. ''We did it because of Microsoft's valuation and its market position in the Internet software space, and the fact that we see more software being written to network applications,'' Marsico, 43, said. He also mentioned the delay of Intel Corp.'s Merced chip, which he said ''should drive the network software business for Microsoft'' when it's introduced. Shares of Microsoft, the world's largest software company, have risen just 3 percent in the past month, compared with a 7.5 percent increase in the benchmark Standard & Poor's Index of 500 stocks. At the same time, Marsico didn't condemn Microsoft's prospects in total, and praised its ''terrific management team.'' He said about 4 percent of his company's assets of about $7 billion had been invested in Microsoft. Marsico said in an interview his company no longer owns Microsoft stock. As Marsico sold his company's Microsoft stake, he said, he added shares of such companies as Citigroup Inc., Qualcomm Inc. and Time Warner Inc. For Marsico, sale of Microsoft shares represents the closing of a long-held investment. He's held Microsoft stock for about a decade. Apr/25/1999 19:53