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The Internet Financial Connection, February 19, 1999 Presented by Mark Johnson, Editor of the IFC techstocks.com It appears exclusively on Silicon Investor techstocks.com -------------------------------------------------------------- To Subscribe to this Newsletter: Send an email to <mailto:ifc-request@mLists.net> with "subscribe" in the message body. Please tell a friend about this newsletter :) -------------------------------------------------------------- This newsletter can be viewed at techstocks.com In This Issue: 1. An Interview with "Tech Guru" Kevin Landis of Firsthand Funds 2. Advent Software 3. BE Aerospace 4. Robert Pharr of Providence Capital Management 5. Interesting Articles On The Internet by Joe Dancy 6. Highlights on SI: by Tom Taulli 7. Highlights on SI: Drilling and Oil-Field Services 8. Disclaimer ---------------------------------------------------------- 1. techstocks.com Mark Johnson, Editor of the Internet Financial Connection, provides the following interview with Kevin Landis of Firsthand Funds firsthandfunds.com . Landis' no-load Technology Leaders Fund returned 78% in 1998. In the fourth quarter of 1998 Firsthand Funds had three of the seven best U.S. stock funds, gaining from 58% to 97% in the quarter. AudioInvestor.com provides an audio version of the interview. If you would prefer to listen to the interview, please use the link below. audioinvestor.com To conserve bandwidth, please use the link below to read the interview with Kevin. techstocks.com ----------------------------------------------------------------- 2. techstocks.com Advent Software is a leading provider of software and services that automate and integrate the day to day operations of investment organizations. They offer a wide variety of applications on a stand alone basis and as a suite of integrated products. Advent's scaleable solutions include portfolio management, trading, data warehousing, Internet-based automated reconciliation and client management systems. Patrick Dalton, a portfolio manager at J.W. Burns & Company, likes Advent as an investment for a variety of reasons. "They have an outstanding track record of consistently meeting or exceeding earnings expectations," he says. Other reasons why he likes the stock include a market dominant product with a clear lead over the competition, a strong backlog of orders along with a promising number of potential contracts, and a growing client list of big name firms including newly signed contract with Merrill Lynch. In addition, their successful track record of bringing new products to market should strongly position Advent for future earnings growth. When the market sold off last fall, investors became concerned about Advent's earnings due to a perceived slowdown in spending by Wall Street firms. Advent's stock was not immune to the significant correction in small caps and the price of their stock did drop from the mid 30's to the low 20's. Despite of these concerns Advent posted a very strong fourth quarter. Patrick mentions that a prolonged pull back in the stock market may reduce future spending, but a strong recurring revenue stream will help to offset that. About one third of their revenues are recurring. Patrick adds, "They have a dominant position in the industry and have steadily been taking market share away from the competition." Mr. Dalton thinks they can grow earnings in the area of 35% over the next several years and earn in $1.55 in 99', with their stock hitting the mid 60's by the end of this year. There is a thread that discusses ADVS on SI. Subject 13168 ------------------------------------------------------------------ 3. techstocks.com Ron Muhlenkamp of the Muhlenkamp Fund muhlenkamp.com, provides the following stock idea on BE Aerospace (BEAV 12). Below is the write up. BE Aerospace is an aircraft cabin interiors maker and seat refurbisher. They control about 50% of the seat refurbishing market. Their stock is significantly off of their 52 week high of $34. Several years ago when the airlines were not making money, many planes weren't being built or refurbished. This hurt the industry that BE operated in. They used the weakness to their advantage and snapped up many of their competitors. In doing so, BE expensed many things that auditors said, "should have been capitalized." Last fall, their books were restated to reflect the new accounting. "Going forward, earnings will be a little bit less than previously anticipated," says Ron Muhlenkamp of the Muhlenkamp Fund. "It gave investors a reason to sell their stock." Ron adds that BE is a capital goods provider. Any company that is even remotely related to that area has suffered. "If you have been on an airplane recently, you will notice that a large number of seats need to be refurbished," he says. "In fact, AMR said in their annual report that they will refurbish the interiors in a lot of their airplanes... It is cheaper to refurbish an airplane than to buy a new one." Ron notes that their stock is "dirt cheap". He figures they should earn $2.30+ for fiscal year ending in February 00'. "Their stock is selling at less than 6 times forward earnings and should at least double from here." There is a thread that discusses BEAV on SI. Subject 8513 --------------------------------------------------------------------- 4. techstocks.com Robert Pharr of Providence Capital Management 704-334-6600 http//www.providencecapital.com, provides the following stock ideas. Below is the write up. Robert Pharr of Providence Capital Management (who returned 51% for clients in 98), recently eliminated his positions in the technology sector before the pullback in that area. His main concerns were valuation levels in the tech area. "A number of the larger technology companies were trading at a trailing PE's of about twice their growth rate and we have not seen that before... It is hard for the large quality high tech companies to maintain those multiples," says Robert. About 35% of his portfolio was in the technology area with positions dating back to 92' before cashing it all in. Robert notes that during the handful of corrections in the technology sector in recent years, all have been buying opportunities without question. Longer term he still likes; Cisco, Dell, Lucent, EMC and Oracle but has not found an attractive entry point yet. He has also been selling consumer cyclical stocks, which include airlines and retailers. Robert uses a unique approach when investing money and uses a top down process. He trys to get a handle on what the economic environment will be like going forward. That includes what sectors he thinks will be favored in the future. Under those sectors he looks at individual industry groups and then looks for individual companies. Robert has been moving into heavier cyclical sectors which include raw and intermediate materials. "We recently added high quality names in those industries that have been lagging the market," he says. Some new additions to his portfolio include; Georgia Pacific (GP 67 3/4), Phelps Dodge (PD 43 1/2), Chevron (CHV 77 3/8) and Schlumberger (SLB 48 5/8). His favorite is Schlumberger. "Despite the weakness in the oil markets, they are still very profitable. They are one of the premier growth companies in the world and at current prices it is very cheap." Schlumberger is expected to earn $1.81 in 99'. ----------------------------------------------------------------- 5. techstocks.com Joe Dancy, co editor of the IFC and editor of The Lone Star Growth Investor members.aol.com provides the following links to Interesting Articles On The Internet. These articles were from a daily worldwide search of over 150 newspapers and magazines. Subscriptions to his newsletter are FREE. members.aol.com INTERNET AND ELECTRONIC COMMERCE Institutional investors look at internet stocks techweb.com E-commerce has come off pretty e-lousy the last few days. From the ever-crashing servers of on-line brokerage E*Trade to the embarrassing pricing glitch at Buy.com bergen.com But online retailers are proving to be slow learners. They know how to build a store, but most have forgotten how to sell. latimes.com If there was any doubt that money-losing Internet companies are still the sweethearts of the stock market, recent IPOs should quash them -- for the time being. mercurycenter.com Millions of people who get free e-mail services from Yahoo, Hotmail and Excite are subject to hacker attacks because their privacy protections are so poor sfgate.com An e-tailer that hasn't even opened for business has stumbled upon a novel but successful marketing approach: Run a sweepstakes offering 100,000 shares of stock in the business. nypostonline.com USA/Lycos Interactive Networks, the newest Internet dynamo, is betting its future on hawking books, clothes and tickets straight to consumers, but its rivals and investors have some doubts about that strategy. sfgate.com Fifty percent of American households had a personal computer last year, a technology market research group reported Tuesday. herald.com Not only are brick-and-mortar drug-store chains such as Rite Aid offering limited prescription refill services online, Internet companies such as Planet Rx (http://www.planetrx.com) and Drugstore.com (http://www.drugstore.com) are preparing to launch full-service online techweb.com SEMICONDUCTORS, Y2K, & ELECTRONICS Chip designers leave cartoon characters, elaborate logos -- even a wedding announcement on the product. techweb.com "Bad fixes," as computer professionals have taken to calling them, are emerging as a major source of concern as the world's computer programmers scramble to unsnarl the Y2K problem. chicagotribune.com Advertising linked to searchwords -- "keywords" in Internet parlance -- is a major source of revenue for Web sites, but the legality of using trademarked names hasn't been resolved in court. bergen.com For the first time ever, the two companies had succeeded in producing fully functional DRAM (Dynamic Random Access Memory) chips processed entirely on 300 millimetre equipment instead of the current 200 millimetre technology. herald.com A doomsday voice mail message predicting the end of the world greeted some Pacific Bell customers Thursday morning after a caller accidentally sent a message to some voice mailbox customers in the 650 area code. sfgate.com MARKETS AND INVESTING The average day trader has an average net worth of $640,000. More than 95 percent have college degrees and 52 percent have post-graduate degrees, mostly MBAs. detnews.com International fund manager steers clear of world's current success stories. washingtonpost.com James Cramer is considered by some as a little, well, too persuasive. nypostonline.com ''There is a real risk for some people of day trading becoming an addiction.'' Day trading, that is. globe.com Thorny tax issue: who is a 'trader'? washingtonpost.com The case for owning mutual funds managed by actual human beings is getting weaker all the time. washingtonpost.com Rally for technology stocks is not over yet nypostonline.com It's getting harder to make money from insider trading - the legal kind. nypostonline.com Little wonder that as of midweek, Morningstar Inc. calculated that 84% of all U.S. diversified stock mutual funds were down year-to-date. If you're feeling a bit poorer this year, it's not your imagination. latimes.com The Oberweis Emerging Growth Fund and Micro Cap Fund own stocks that have posted 90 percent gains in earnings and sales in the last 12 months and are expected to do the same this year. chicagotribune.com For nearly six months, the average stock has lost ground. That may come as a shock to many investors since the leading indexes, particularly the S&P 500, are net ahead for the period. techweb.com ECONOMIC Treasury Secretary Robert Rubin acknowledged today there are ''legitimate concerns'' that overhauling the financial services laws. globe.com Internet stock hype a mere blip next to money and action in mega-marriages. mercurycenter.com The central bank of Japan unexpectedly cut a key short-term interest rate in an effort to help pull the world's second-largest economy out of its recession. washingtonpost.com Maybe it doesn't matter that much if the eighth-largest economy in the world goes down the chute. washingtonpost.com ----------------------------------------------------------------------- 6. The Taulli Report, Voices of SI: by Tom Taulli For a weekly e-mail newsletter of The Taulli Report, e-mail <mailto:tom@taulli.com> The place to be? b2b stocksite.com Healtheon: Just what the doctor ordered? stocksite.com As an ISP, Prodigy finds new fans stocksite.com Investors see opportunity in Earthlink stocksite.com ---------------------------------------------------------------------- 7. techstocks.com Douglas Fant is an active participant at the Strictly: Drilling and oil-field services thread on SI. He interviews industry expert Mike Simmons, President of Loosbrook Offshore Services. Mr. Simmons answers questions posed by SI members, and relayed by Doug, regarding the sector. Simmons discusses his outlook - as an industry insider - for the sector, and comments on some recent earnings announcements. AudioInvestor.com features an audio version of the interview. To listen to the article, please use the link below. audioinvestor.com ---------------------------------------------------------------------- 8. techstocks.com DISCLAIMER: All information contained on this page are from the authors cited. The information is believed to be reliable but there is no guarantee to its accuracy. Stock ideas presented by mutual fund managers, money managers, newsletter writers and SI participants may be bought or sold by them anytime before or after being presented in this newsletter. Anyone purchasing the stock ideas above should consult a financial advisor before doing so. The stock ideas mentioned above are not solicitations to buy or sell but to provide people with information from many sources. I (Mark Johnson editor of the IFC) am not paid any fees by the above writers nor by the companies represented. The stock ideas may represent a starting point for investors. People are encouraged to do their own homework before buying any stock. Neither Silicon Investor or the Internet Financial Connection will be responsible for any loss occurring from the purchase or sale of the above securities or any securities. ========================================================================= To Subscribe: Send an email to <mailto:ifc-request@mLists.net> with "subscribe" in the message body. Please tell a friend about this newsletter :) Shop the best prices on the Web! webmarket.com | ||||||||||||
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