Word: teche
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...everyday life. It's e-mail. It's the government wanting to bust up Microsoft, Y2K threatening the globe, the Internet challenging the mall. Ignore it? O.K. But then forget about beating the market, and go buy an index fund. Really. You'd get a market weighting in tech stocks (24% of the S&P 500) along with low expenses and tax-efficient management. That's a great deal...
...trying to do better, though, tech stocks are critical. Of 1,958 diversified stock funds, 673 were beating the S&P 500 through October. Only 16 of them have less than 5% in tech stocks, Morningstar reports. Since 1992 only 1 in 5 diversified funds that beat the market each year did so without a slug (at least 5%) in tech...
Sure, they can be confusing--just what does Cisco do?--and volatile and pricey. But even strict-value managers, who focus on low stock prices relative to earnings, buy them. "Get your head out of the sand," Scott Black at Delphi Management advises tech sissies. Look for normal stuff--little debt, market dominance, sustainable advantage, strong brand, good managers, a commitment to research and development. You can find tech companies priced right. Black's favorites include electronics suppliers Arrow and Nu Horizons...
...more than a decade, so why does it slip into a coma when I'm surfing the Web on my home computer and a friend tries to call me on the same line? After all, a modem connection is just another phone call. But for all our high-tech wizardry, my friends still get a busy signal even if I'm just deleting junk e-mail or downloading a song. I may get a little drowsy at the keyboard, but I can still multitask--if only my PC will...
Like many new high-tech firms, both were growing fast--but not fast enough to keep up with the demands of their customers. Personify, founded in San Francisco in 1996, builds software that lets an e-marketer keep track of visitors to its website, what pages they look at, and how long they take to pick out something or go elsewhere. By last summer it had signed up 50 clients that were paying Personify about $6.2 million--and demanding more and different kinds of services than the company's 60 employees could supply. CEO Eileen Gittins decided the best...