| To: JZGalt who wrote (10490) | 2/25/1999 12:15:00 AM | | From: jach | | | |
Very simple answer, using the clueless methods; almost all are clue-less and follow-the-herds that could not tell the difference between an ATM switch and a kitchen fan-switch. No wonder, more than 65% of the money managers and mutual funds lag behind the simple S&P500 index. Why bother keeping money in these funds and using these analysts, just buy SPY (SPiDER)like one would buy mutual funds. Within the next three years almost all the brokerage houses will be begging for customers as most investors will be either investing their own pick of stocks, or just simply use deep-discount Internet brokerage and will be investing in a number of index related derivatives or DRs. all imo.
==============================
By Tiare Rath, CBS MarketWatch
Last Update: 9:40 PM ET Feb 24, 1999
Renegade Reports
Tech Report
SAN FRANCISCO (CBS.MW) -- For all the money they move and all
the power they hold, investment banks and companies sure can be
clueless.
Thursday will be the final day of BancBoston Robertson Stephens Tech
'99 conference -- the third of its kind in four weeks.
No, the bank didn't hold three conferences. (That would be the ultimate
clueless move.) Instead, it held the final event in a month of technology
investment conferences that featured most of the same companies.
The first week of February brought NationsBanc Montgomery's
technology conference. That was followed by Goldman Sachs' the next
week. After a whopping five working days of not hearing from the tech
giants, BancBoston Robertson Stephens provided investors with that very
opportunity. See Renegade reports.
At that point, money managers and journalists were
seeing each other more than their own family
members. And investors weren't getting many new
clues about what to do with their money from
companies.
Tech overkill
Technology Overkill February begs the question:
How much can really change for companies in one
week? Answer: Not a whole heck of a lot.
By the time the Robbie Stephens event rolled
around, Advanced Micro Devices (AMD) still
wasn't throwing its executives to the
money-management wolves. (The chip maker
pulled out of all three conferences and warned of a
possible loss in its first quarter.)
Most companies that did present still saw the same
"significant" growth rates or felt "comfortable" with
their businesses -- just as they had in the previous two weeks.
BancBoston Robertson Stephens Vice President Camille Lepre said the
banks don't exactly coordinate when they're holding conferences -- they
are, after all, competitors. February is often a good time because
companies are entering their fiscal years and they're coming out of quiet
periods, she said.
Not much to say
But many companies, like Dell Computer (DELL) at Goldman Sachs,
were in their quiet periods during their presentations. And others just
didn't have too much to say.
"Every conference is what you make of it," said James Renck of Renck
Capital Management, who's been following technology companies for 20
years. "You find [the news] in the hallway, not in the general
presentations."
But if investors were hearing news in the hallways, it probably wasn't
originating from the tech bellwethers. Many of the big boys pulled the
clueless move of sending to investment conferences random executives
who knew everything about tech but not a whole lot about money.
Cisco Systems (CSCO) sent the vice president of its enterprise line to
Montgomery; IBM (IBM) shipped the senior vice president of its data
technology group to Goldman Sachs; the vice president and director of
platform launch operations was sent by Intel (INTC) to BancBoston
Robertson Stephens.
Kudos, on the other hand, to companies like Micron Technology (MU)
and Excite (XCIT), whose chief executives decided it was worth their
while to talk to investors.
Cisco Systems didn't return a call explaining its decision, though Micron
spokeswoman Julie Nash was more than happy to tell why it sent
Chairman and Chief Executive Steven Appleton: "Mr. Appleton likes to
keep in touch with the analyst community," she said.
It would be nice if more companies' top-tier executives felt the same way.
And it would be great if, on top of that, they could review their businesses
once every month or two, rather than every week.
Those two efforts would help give shareholders more insight into their
investments -- and would make banks and companies look much less
clueless.
Not everyone is making money. There are actually investors, believe it or not, who
buy or sell a stock, commodity, piece of art or security at the wrong time. CBS
MarketWatch readers, if you have a five-paragraph tale of clueless adventures,
email it to the CBS MarketWatch newsroom. |
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| To: michael m who wrote (10485) | 2/25/1999 12:27:00 AM | | From: jach | | | | |
FORE seems to have bad luck such as today when the mkt tanked when FORE had good news. It had strong volume into the 18$ range and some profit taking drove it down. IMO, there is a very good upside potential if the mkt remains good. |
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| To: JZGalt who wrote (10490) | 2/25/1999 12:43:00 AM | | From: jach | | | |
FORE Systems' President and CEO, Thomas J. Gill, Delivers Keynote at the
'IT for WallStreet '99' Conference
GartnerGroup/Ziff-Davis Event Brings Together Leading Securities, Banking and Insurance Companies
PITTSBURGH, Feb. 24 /PRNewswire/ -- FORE Systems, Inc. (Nasdaq: FORE - news), a leading global supplier of Application Aware(TM) networking
solutions, today announced that its President and Chief Executive Officer, Thomas J. Gill, will deliver Thursday's keynote address at this week's ''IT for WallStreet
'99'' conference and exhibition in New York City. Mr. Gill's presentation, entitled ''Building Application Aware Networks for Competitive Advantage,'' will
highlight the importance of an intelligent network foundation.
''The competitive landscape in today's financial services industry is extraordinary -- and that competition is fueled by the need for information,'' said Gill. ''Those
organizations with fast, reliable access to the right information at the right time stand to profit significantly. FORE Systems has invested heavily in developing
network solutions that can do just that, providing a critical competitive advantage to our customers.''
FORE Systems' Application Aware networking solutions allow the network to recognize the kind of traffic flowing across it, empowering the network manager to
prioritize business-critical traffic flows over other non-critical traffic. For example, a financial services company with an Application Aware network infrastructure
from FORE would be able to prioritize time-sensitive market data traffic and applications over email or Internet traffic. That way, as the network becomes
congested, the market data applications would still receive the highest levels of performance and availability.
Mr. Gill's presentation will be delivered on Thursday, February 25th at 8:30 a.m. at the Jacob K. Javits Convention Center in New York City.
In addition to Mr. Gill's presentation, FORE Systems will highlight a series of leading edge network applications with the help of several partners in booth #567. In
cooperation with PictureTel, FORE Systems will demonstrate a network-based video teleconferencing system. Additionally, FORE will showcase an integrated
voice solution that is tailored to the financial services market with its partner V Band Corporation.
FORE Systems is also demonstrating an automated network management solution from Pivot Technologies and a middleware solution from IONA Technologies for
the integration of applications across language, platform and network boundaries.
About IT for WallStreet '99
The IT for WallStreet experience brings together key industry and technology experts to help clarify the increasingly complex IT-enabled financial services industry.
IT for WallStreet '99 will offer a comprehensive conference, produced by GartnerGroup and Ziff-Davis, entitled ''IT Strategies for the Financial Services Industry.''
ZD Events will supplement the conference with two PowerPanels, three tutorials and four high-level keynotes. In addition to the educational conference, the event
will feature over 2100 solution-providers in a three-day exhibition. To help attendees glimpse the future of trading, a Live Trading Floor Demonstration Area will
showcase over 25 different technologies in an actual trading floor setting, complete with live market data feeds.
About FORE Systems
FORE Systems is a leading global supplier of high performance networking solutions. FORE's Networks of Steel(TM) deliver the capacity, resiliency and
unparalleled scalability necessary to build networks that last. That's why thousands of enterprise and service provider customers worldwide have put FORE
Systems' solutions at the heart of their networks.
======================= The following segment is in fact a KEY piece of FORE strength and that can potentially become a large revenue generator. Nobody has perfected this end-to-end applications' aware networking and FORE is at the fore front of it.
Would not be surprised at all if FORE is bough by some large applications oriented companies like MSFT, ORCL, SUNW or Intel.
The notion of the network is the computer becomes a true reality when an application running on a Win98 PC can get deterministic QoS across the country link to the server running on Win NT.
------------------------
FORE Systems' Application Aware networking solutions allow the network to
recognize the kind of traffic flowing across it, empowering the network manager to
prioritize business-critical traffic flows over other non-critical traffic. For example, a
financial services company with an Application Aware network infrastructure
from FORE would be able to prioritize time-sensitive market data traffic and
applications over email or Internet traffic. That way, as the network becomes
congested, the market data applications would still receive the highest levels of
performance and availability.
-------------------- |
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| To: jas cooper who wrote (10495) | 2/25/1999 9:47:00 AM | | From: Rich | | | |
I agree....being positive is one thing but having the blinders on is another.
FORE has a great product but mgmt has failed to capitalize. Being in sales in "technology", I find Gills comments hysterical about we are now going to call on CIO's and CEOs.....perhaps the VP of Sales should be roasted over a hot fire....they should have been doing this for years now!
Do you think Cisco reps and the rest of the pack are selling high end multi million dollar equipment to the engineering staff!
FORE's atm gear right now outperforms the rest of the pack but look at this scenario- I just bought an entire "Cisco Powered Network" or I just bought some Fore ATM switches. Which would you get fired
for<g>?
PPPLeeazzzzz. |
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| To: Rich who wrote (10496) | 2/25/1999 10:36:00 AM | | From: OrionX | | | |
Rich et al,
I don't know if this is off a tangent but I'd like to say a few words about this roller coaster stock.
How fast people tend to forget that many great companies with the greatest products on the planet have long since gone. Those that still are here today are those that market and sell their products irrespective of whether they are the best or fastest. I've learned my lesson once too many times following companies with the leading edge products as claim to fame. At one point in time, if the sales don't keeping growing, some hard questions have to be asked. Like they say, if you can't beat them, join them. If Fore has some problems growing faster than they are currently and with growing earnings, then the time has come for Fore them to sell the company. Most people, in my opinion, don't understand quality, performance and feature advantages which is why they buy whatever they can get to do the job for the least dollar. Just look at history and around you today, and you can name several products and companies that have since vanished or moved into the shadows.
BTW, the comment of the CEO saying they're going to meet with CIOs and CEOs definitely made me think and reassess this company's management which in the past I took on faith. Those comments were certainly not what I expected the CEO of an aggressive and growth focused company to be saying at this point in time. IMHO, this is what is normally said early on in the growth of a company. I assumed (argh!) they were doing this all along. What have they been doing so far???
Still long for now. |
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