high. It’s a stock that we think can go to the low 60s over the next 12 to 18 months.”
Lucent Technologies Inc. “I still believe in the telecommunications area and I think that although there is tremendous overcapacity, it has all been discounted in the price of the stock. They are aggressively looking to sell off some of their businesses, which I think will let people know that they will be around to weather the storm. It reminds me of Citigroup back in the ’80′s, when everybody said Citibank was going under.”
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October 2000 B.E. Stock Update One thing is clear: the bears took a sizable chunk out of most of the stocks that were selected by last October’s roundtable participants: Doris Kelley-Watkins, portfolio manager of Evergreen Utility Fund, which invests in a board spectrum of utilities including telecoms and power firms; Stephen Coleman of Daedalus Capital, who takes a “focused equity” approach to investing; Stephen Humphrey, portfolio manager of Lord Abbett Large Cap Growth Fund; and Nathaniel Carter, chief investment officer of value-oriented Lakefront Capital Investors. As you would expect, telecoms and tech stocks were the most badly bruised. But there were some winners: Investors reaped sizable returns from Great Plains Software, one of Coleman’s picks, that was acquired for $1.1 billion by Microsoft (Nasdaq: MSFT) in April. The chart below reveals just how well our stock pickers performed: |
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| Doris Kelley-Watkins, Evergreen Utility Fund | ||||
|
Company (Exchange: Ticker) |
Current |
Price at |
Total Return |
Current Value |
| Nextel (NYSE: NXTL) | $14.33 | $ 57.00 | -74.86% | $ 251.40 |
| Crown Castle (Nasdaq: CCI) | 9.65 | 36.47 | -73.54 | 264.60 |
| Consolidated Edison (NYSE: ED) | 41.79 | 32.38 | 29.06 | 1,290.61 |
| Stock Pick Average | -39.78% | |||
| Current Value of $3,000 Investment | $1,806.61 | |||
| Stephen Coleman, Daedalus Capital | ||||
|
Company (Exchange: Ticker) |
Current |
Price at |
Total Return |
Current Value |
| Adobe Systems (Nasdaq: ADBE) | $34.05 | $58.09* | -41.38% | $586.16 |
| Broadcom (Nasdaq: BRCM) | 42.55 | 238.94 | -82.19 | 178.08 |
| Stock Pick Average † | -61.79% | |||
| Current value of $2,000 investment † | $764.24 | |||
| Stephen Humphrey, Lord Abbett Large Cap Growth Fund | ||||
|
Company (Exchange: Ticker) |
Current |
Price at |
Total Return |
Current Value |
| General Electric (NYSE: GE) | $42.57 | $53.38 | -20.25% | $ 797.49 |
| Corning (NYSE: GLW) | 16.19 | 91.34* | -82.28 | 177.25 |
| EMC (NYSE: EMC) | 17.26 | 85.50 | -79.81 | 201.87 |
| Stock Pick Average | -60.78% | |||
| Current Value of $3,000 Investment |
ACROSS THE WEB
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