Newsgroup: it.economia.borsa
Titolo: News STM

Purtroppo in inglese che io mastico poco.
Qualcuno più esperto potrebbe riassumere ?
Grazie
Luigina
_________________________________________
Subject: Digital TV News: Money manager favours ST
Author:  Chris CARTER at uk/o2=bristol/o3=m1
Date:    5/6/2002 9:27 PM
          Money Manager favors STMicroelectronics in Wall ...
OTC  02/05/01 3:24 PM
New York City, New York, May 01, 2002 (The Wall Street Transcript via
COMTEX) --
Five money managers examine portfolio management strategies in the latest
issue
of The Wall Street Transcript, available at 
(212/952-7433
) or
http://www.twst.com/info/info541.htm
   TWST: What are some of the major European holdings that you have in the
Fund
at this time, as well as the reasons why?
   Mr. McClure: One of the stalwarts of our fund is STMicroelectronics
(NYSE:STM), which is a French-Italian hybrid whose industrial history is a
little complicated, but in any case, we like them for a number of reasons.
One,
they are the sixth largest semiconductor manufacturer in the world. Two, we
like
their management team, which is very experienced and generally has been
together
for a considerable amount of time, for the last two or three semiconductor
cycles. Three, the company is very good from a corporate governance
standpoint.
They hold themselves to very high standards, which are market positive. For
example, they're very good at disclosure with investors, they're very
environmentally friendly with their processes. Four, and where it really
counts,
is the financials. Through the last two semiconductor downturns, they have
managed to maintain profitability, and in addition to that they've managed
to
increase their share of the overall semiconductor business worldwide.The
last
thing we really like about them, in addition to strong management and good
financial performance in good times and bad, is the fact that they have a
very
broad product line. For example, they don't make PC microprocessors like
Intel
does, but they do make PC peripheral controllers, as well as chips targeted
toward high definition television, storage devices, auto electronics, etc.
They
also have a discrete components business. So they have a very broad-based
product line, and given how cyclical the semiconductor industry is, we feel
that
this provides us with less risk in what is traditionally a very volatile
sector.
That would be our top pick in Europe from a semiconductor standpoint.
   TWST: What type of investor is in the Global Science & Technology Fund,
and
how do you manage their expectations at this time?
   Mr. McClure: We can't control the timing of people buying and selling the
Fund. We do try to articulate our process and how we try to mitigate the
risks
of investing in technology, because due to the risk of obsolescence and the
momentum aspect of the people who do invest in this space, people can get
burned
if they become overexposed to the asset class. So generally when we're on
the
road and people want to invest in technology, we'll find that unit holders
will
put anywhere from 5% to not more than 15% of their own asset allocation into
a
specialized sector fund such as ours, and we really wouldn't advise going
beyond
that. That's basically the message that our own financial consultants will
carry
out. Ultimately it's up to our financial consultants at Investors Group to
work
with the risk tolerances and the financial positions of the clients to
determine
what the most appropriate investment strategy is for them, and we leave that
up
to their good counsel. But when we are on the road we basically highlight a
couple of the points that I just made as general guidelines.
   TWST: Is tax efficiency important in managing the Fund?
   Mr. McClure: Yes, it's very important, and that's one of the things that
Keith and I pay particular attention to, given some of the turnover. Now,
having
gone through the past year, obviously we've been able to lock in a number of
significant capital losses. But one thing we believe very sincerely is that
if
the Fund is down in any given year, people should not receive a capital
gains
distribution. I think we have given confidence to our unit holders in their
knowing that both Keith and I have a significant portion of our own net
worth in
the Fund. So people can rest assured that the same corporate governance
we're
holding the management teams of our investments to, we also hold ourselves
to.
We should be acting in the best interests of our unit holders, and the best
way
to ensure that is to make sure our interests are aligned.
   This special Investing Strategies Report includes:
   1) Kent G. Croft, President and Director at Croft-Leominster Inc.,
examines
portfolio management strategies in this timely and deeply informative
4,000-word
interview from The Wall Street Transcript.
   2) Daniel D. McClure & Keith A. McLean, both Partners with I.G.
Investment
Management, Ltd., examine portfolio management strategies in this timely and
deeply informative 5,400-word interview from The Wall Street Transcript.
   3) Norman Gee, Senior Vice President and Senior Portfolio Manager at
Freemont
Investment Advisers, examines portfolio management strategies in this timely
and
deeply informative 2,700-word interview from The Wall Street Transcript.
   4) David C. Jordan, Chief Investment Officer of First Bruce H. Geller, is
Executive Vice President at Dalton, Greiner, Hartman, Maher & Company,
examines
portfolio management strategies in this timely and deeply informative
4,200-word
interview from The Wall Street Transcript.
   This interview is a small excerpt from a comprehensive interview
published in
The Wall Street Transcript on 04/29/02.
      Daniel McClure
 CONTACT:          The Wall Street Transcript Corporation
                   67 Wall Street, 16th floor, NY, NY 10005, USA
 
(212) 952 7433
 
(212) 668 9842
 
infotwst.com
 URL:              
http://www.twst.com
 The Wall Street Transcript is a premier weekly investment publication
interviewing market professionals for serious investors for over 36 years.
    Copyright 2002 Wall Street Transcript Corp.
   -0-
 INDUSTRY KEYWORD: General Investing
    Copyright 2002

 
questo fondo preferisce stm per 3 motivi:
1 la profittevolezza della società
2 la larghezza del business
3 il management è loro molto gradito
pare che vedano stm messa meglio di intel.

 Qualcuno più esperto potrebbe riassumere ?
Cinque Gestori americani intervistati parlano molto
bene di STM e affermano di averle in portafoglio.
A loro STM *ci* piace, 'nzomma :-))
(e a questi prezzi fa gola anche a me)
--
Stardust®

 questo fondo preferisce stm per 3 motivi:
Quale fondo ?
--
Stardust®

 Stardust®
Ti ringrazio e mi scuso per il ritardo nella risposta, ma ADSL Tiscali č
andato in tilt.
 > (e a questi prezzi fa gola anche a me)
Spero che tu non sia dentro ancora con quelle a 38.
Mio figlio č entrato, con poche per fortuna, prima dello scivolone di
Venerdģ, nonostante lo sconsigliassi e gli dicessi di aspettarle sotto i 32
:-((((
Luigina

 > Qualcuno pił esperto potrebbe riassumere ?


 :-((((
Mettiamola cosi':
Scalpare tra 38 e 39 o tra 30 e 31 non fa nessuna differenza
(anzi, si risparmia qualcosa in commissioni)
Sono troppo ottimista? :-))
--
StardustŽ

 Sono troppo ottimista? :-))
No, condivido :-)
Hai notato che da quando ho postato la news, STM ha rimbalzato dai minimi?
Stasera speriamo in S. Cisco :-)
Ciao
Luigina