Nicht jammern - gemeinsam Trüffeln für 2001 suchen!

[Trüffelschwein]

Hallo,

ich habe - wie die meisten anderen Board-Teilnehmer auch - seit Ende August heftige und schmerzhafte Buchverluste hinnehmen müssen. Nichtsdestotrotz sollten wir uns m.E. nicht allzusehr der Trauerarbeit widmen, sondern stattdessen lieber gemeinsam über eine Strategie für 2001 nachdenken.

Nur Traden kommt nicht für jeden in Frage, schon allein wegen des damit verbundenen Zeitaufwands. Nur auf Cash zu sitzen bringt es auch nicht, denn ich bin der festen Überzeugung, daß es auch in den kommenden Monaten Aktien geben wird, die steigen. Auch "Eichel-feste" Aktien, d.h. solche, die ein Jahr gehalten werden können.

In diesem Zusammenhang möchte ich nochmal den wertvollen, aber leider wenig gelesenen Beitrag von TotalStock in Erinnerung bringen:
http://www.stock-channel.net/Board/Forum3/HTML/000471.html

Ich habe auch ein paar Favoriten für das kommende Jahr, von denen ich hier einfach mal den ersten zur Diskussion stellen möchte:

CALPINE (CPN)
Baut und betreibt Gas- und Dampf-Heizkraftwerke. Prognostizierte Langzeit-Wachstumsrate 40% (Earnings)
PE 2001e = 34
Market Cap (bei $ 41.8125):
$ 11,683,499,625

Analyst Ratings (naja):
11 Strong Buy
3 Buy
1 Hold
0 Underperform
0 Sell

Chart könnte eine umgekehrte SKS ergeben:
<IMG SRC="http://cdpixel3.teledata.de/informer2/cdcharttcl?symm=CPN.NYS&hist=4&dbrushwidth=&charttype=&gd1=&gd2=&benchmark=&infos=&indtype1=&indtype2=&volumen=" border=0>

Weitere Trüffeln aus meiner Sicht wären z.B. Tomra (Rücknahmeautomaten für Pfandflaschen und -dosen) und Phonak (hochwertige Hörgeräte). Diese beiden Werte sehe ich allerdings mehr als mäßig spekulatives Langfrist-Investment (&gt; 2 Jahre).

Irgendwelche Meinungen und Beiträge zu einer "Trüffelbörse"?

Ciao, T.

[Trüffelschwein]

Hier ein Wert aus TotalStock's Beitrag:

<IMG SRC="http://cdpixel3.teledata.de/informer2/cdcharttcl?symm=IMA.ASE&hist=4&dbrushwidth=&charttype=&gd1=&gd2=&benchmark=&infos=&indtype1=&indtype2=&volumen=" border=0>

In the small-cap category lies the top stock of the year in any category -- Inverness Medical Technology (IMAhttp://www.stock-channel.net/Board/smilies/smilewinkgrin.gifmex - news). A micro-cap player's dream stock, this manufacturer of over-the-counter health-monitoring kits started in January at around $80 million in market capitalization and has advanced steadily -- not parabolically -- ever since. Along the way, it attracted some powerful allies, including Fidelity Investments (owner of 721,000 shares through the Sept. 30 reporting period), hedge fund Pequot Capital Management (owner of 597,000 shares) and value player Franklin Resources (188,000 shares).

The momentum still looks good, as it appears that all of the institutional activity in the stock in November was positive, including a 255,800-share purchase reported by the $22 billion Connecticut-based money manager Aeltus Investment Management on Nov. 15. Expectations for growth are dangerously high now, but buyers still seem to be supporting the stock at every dip.


Tja, wie weit es wohl noch gehen mag?

Ciao, T.

[Silke]

Moin Trüffelschwein,

sicherlich bringt es dem Konto nichts, den Kopf in den Sand zu stecken. Ich allerdings werde wieder zum Daytrading übergehen. Dabei interessiert mich pers. dann nur der momentane Tageschart und die NEWS. Fundamentales wird wieder in die zweite Reihe geschoben!

Wie Brigitte es sagte, mit geringen Einsatz ein bißchen Zocken gehen und Schritt für Schritt das Alte wieder aufbaun.

Aber einen tipp hab ich noch - die Company wollte mir Lisa Gestern aufs Auge drücken:

Fanny MAE (Kürzel FNM)

<IMG SRC="http://chart.yahoo.com/c/1y/f/fnm.gif" border=0>


KGV von 21 Marktkap von 81Mrd. $

[TotalStock]

Hi Trüffel,

hm SUNW war Winner des Jahres 1999. Wir solten bedenken des es in meinem Beitrag THE WINNER OF 2000 wohl ählich laufen kann. Man hat 1998 gesehen, das dort dann Pharmaaktien gut gelaufen sind, waren damals auch sicher Werte. Dann habe die aber 1.5 Jahre Lang eher den seitwärts oder rückwärtsgang eingelegt und laufen seit März wieder.

Also es werde Sektorrotationen stattfinden....

Wir können mal das Dreieck anschauen... vielleicht hilfts was...
http://www.stock-channel.net/Board/Forum3/HTML/000312.html

Also was läuft als nächstes... und wo wird umgeschichtet, das sollten wir zuerst mal klären...

------------------
Make a good one.
TotalStock

[TotalStock]

Hi nochmal, hm was ED so na TA Gesichtspunkten für Signale sieht,

mal beobachten...

Long Signals: Industry Signal Media
Auto Parts and Equipment Long: Watch for reversal
Consumer Products Long: Watch for reversal
Contract Electronics Mfg Long: Watch for reversal
Food Production Long: Watch for reversal
Oil Drilling Long: Watch for reversal
Oil Field Service & Equip Long: Turning up

Short Signals: Industry Signal Media
Banking Mortgage Short: Watch for reversal
Banks Regional Short: Watch for reversal
Health Care Hospital Mgmt Short: Watch for reversal
Home Builders Short: Watch for reversal
TV Cable Short: Watch for reversal

Also nur mal schauen... ob das hinkommt!


------------------
Make a good one.
TotalStock

[Ralph]

Leute,

genau den Ansatz, den Trüffelschwein hier birngt, ist der richtige .... auch mal über den Tellerrand hinausschauen ! .... Calpine ist eine sehr gute Anlage.

@Mary

Zu Fannie Mae gibt es noch zu sagen, dass sie eine Hypothekenbank in USA ist, die zuletzt das eine oder andere Mal mit -ich nenne es mal- leicht negativen Kommentaren aufgewartet hat, was die Qualität ihrer Kredite in der Bilanz angeht. Das Stichwort "faule Kredite" will ich noch nicht verwenden, aber bei einigen Banken sind solche schon hochgekommen (Tendenz steigend).

Fannie Mae ist interessant, aber auch kein Witwen- und Waisenpapier (solche gibt es eh nicht mehr). ..... nur als kleiner Hinweis.

Aber wenn wir schon nach Alternativen scuhen, dann werft dochmal einen Blick in den Energiebereich (sorry, wenn ich mich mal wieder wiederhole) !

Gründe:

1) steigender Energiebedarf (vor allem Gas)
2) Deregulierung
3) Trend zur Diversifikation

Potentielle Kandidaten (in der Reihenfolge ihrer Wertigkeit - von mir ermittelt http://www.stock-channel.net/Board/smilies/wink.gif ):

El Paso Energy (Gas-Play)
Apache Corp (Gas-Play, geringer Anteil Öl)
FPL Group (FPL)
Calpine (CPN)
AES Group (AES)
Duke Power (DUK)
PPL Corp. (PPL)
Pinnacle West Capital (PNW)
Southern Company (SO)

stay tuned for more .... !

Ralph

[Ralph]

Hallo Leute,

nachdem die meisten auf nicht unerheblichen Cash-Beständen sitzen, ist schon die Frage hochgekommen, wo man in Zukunft investiern sollte. Denn Chancen wird es weiterhin geben. Hier mal meine Meinung:

Die Aktien sollten im nächsten Jahr um ca. 15-25% zulegen können. Die meisten sind dramtisch überverkauft und die saisonalen Kräfte sind relativ stark. Im Januar wird der Fokus auf die Notenbanksitzung gelegt werden, bei der weithin eine Zinssenkung erwartet wird (ob zum richtigen Zeitpunkt oder zu spät soll jetzt mal nicht Gegenstand dieser Betrachtung sein).

Die zuletzt gesehen Wirtschaftsdaten waren ziemlich schwach, wobei der Trend zu noch mehr Schwäche geht, denn die letzten Zinserhöhungen müssen ihre Wirkung noch entfalten. Die Stimmung ist sehr pessimistisch. Ursprünglich hatte ich mal für Q2/2001 eine Zisnsenkung erwartet, vermutlich wird sie bereits in Q1/2001 kommen. Dies bedeutet, dass die Aktienmärkte vermutlich einen Boden gereicht bekommen.

Aber der Schlüssel zum "Outperforming" in 2001 liegt darin, in Value- und Schwach-Risiko-Behaftete-Aktien zu investieren (für die breite High-Tech-Masse wird 2001 nicht doll werden). Value-Indikatoren, wie relativ niedrige P/E-Ratios, Preis-zu-Buchwert und hohe Dividendenrenditen haben immer wieder für starke Anstieg gesorgt ..... dies dürfte sich m.E. auch in 2001 nicht ändern.
Ausserdem sollte auf konsistentes Gewinnwachstum geachtet werden, sowie Werte mit einem niedrigen BETA (Verhältnis der Aktien-Schwankung zur Gesamtmarktschwankung).
Da sich die Wirtschaft weiter abkühlen wird, werden auch die Gewinnschätzungen heruntergespielt, mit der Folge, dass ehemalige "Darlings" mit eigenen Luftschlössern konfrontiert sind, weil die Ertragsschätzungen sukzessive heruntergesetzt werden. Unternehmen mit einem durchgehenden Ertragsstrom werden diese probleme nicht haben und sukzessive gewinnen.

Um solche Unternehmen herauszufiltern würd eich auf jeden Fall den Anfang über das P/E-Ratio machen. Konsequent Aktien mit KGV jenseits der 100 vermeiden, als Beispiel (unsere geschätze MaryMeeker hat diese Regel mal für sich definiert .... nicht schlecht).

In den vergangenen Monaten ist die Sektorrotation ziemlich ausser Mode gekommen ..... es ist schlichtweg fast alles gefallen (zumindest im Tech.-Sektor). Sektorrotation sollte neutral betrachtet werden, wobei m.E. aber zwei Sektoren übergewichtet werden sollten ..... nämlich Energie und Gesundheit.

Mein Vorschlag für eine vernünftige und sinnvolle Diversifikation sieht folgendermassen ein (erstmal nur die Sektoren):

Energie 26%
Technologie 22%
Gesundheit 15%
Finanzwerte 15%
Einzelhande 5%
Zyklische Werte 5%
Rohstoffe 2%
Cash 10%

Aufbauend auf dieser Gewichtung werde ich mal versuchen interessante Werte zu lokalisieren.

Ralph

[Ralph]

Zum Energiesektor stehen ja meine Favoriten schon oben. Hinzufügen möchte ich nur, dass man sich in diesem Sektor vor allem auf das Naturgas konzentrieren sollte.

Hier stehen vor allem drei Werte auf der Liste

1) El Paso Energie (EPG)
2) Apache Corp. (APA)
3) EOG Resources (EOG) ..... der reinste Gas-Play überhaupt

Spekulativ "Ocean Energy" (OEI) ..... hochinteressant !

Was bei EOG sehr interessant ist, ist die Tatsache, dass deren Gas-Bestände nicht gehdeged sind, was wiederum bedeutet, es besteht bei steigenden Preisen ein extrem starkes Potential nach oben .... nach unten aber auch !

Da ich aber nicht von drastisch fallenden Gaspreisen in 2001 ausgehe, wird man mit diesen Unternehmen gutes Geld verdienen können !

Good luck

Ralph

[Ralph]

Hi Trüffel,

es ist schon einige Zeit her, dass Du diesen Thread hier eröffnet hast.

Zu Calpine gibt es jetzt im Moment eine aktuelle Meldung.

***********************************************************
Calpine Makes Sense as Bidder for Canada's Encal
By Peter Eavis
Senior Columnist
2/2/01 3:28 PM ET



Is it Calpine (CPN:NYSE - news - boards) that is in talks to buy Encal Energy (ECA:NYSE - news - boards), the Canadian oil and gas exploration and production company that said Friday it's in merger discussions?

Calgary-based Encal said in a statement that it's talking about a combination with another firm, but didn't name the other party. San Jose, Calif.-based Calpine is keen to obtain its own gas fields to protect itself against the soaring price of natural gas. In October, the company bought Calgary-based TriGas Exploration for around $100 million. Rumors of a Calpine buy of Encal are ricocheting around Calgary's close-knit brokerage community.

Encal's Friday statement reads: "In response to unusual trading activity in the common shares of Encal Energy Ltd., Encal advises that it is in preliminary discussions with a party regarding a possible combination. The company routinely evaluates all of its alternatives on a continuing basis. No assurance can be given that an agreement within respect to any transaction will be reached or that a transaction will be consummated."

Neither Calpine nor Encal returned calls seeking comment.

Encal's stock soared 10% to $8, while Calpine's was ahead 5.67% to $40.81.

At $8.70 to $9 per share, the rumored price range, Encal's market value would be around $1 billion. Add in debt of $180 million, and the potential buyer could be paying $1.18 billion. That would price the deal at around $50,000 per barrel of oil equivalent (BOE/D) per day, according to a Calgary-based oil and gas stock analyst who requested anonymity. The analyst said the $50,000 BOE/D handle makes the deal relatively pricey.

Still, Calpine, if it is the suitor, needs all the competitively priced gas it can get its hands on as it tries to secure the fuel it needs to run its fast-expanding generating empire. Owning actual gas fields is significantly cheaper than buying gas using long-term contracts. The analyst calculates that Calpine needs 2 billion cubic feet of natural gas per day to run its operations. Encal can currently supply 210 million of natural gas per day, or some 10% of Calpine's overall needs, says the analyst.

An alleged weakness in Calpine's strategy is its almost total dependence on natural gas. Of course, the company can pass on the higher costs of the fuel to buyers of its electricity. But, as the California energy crisis illustrates, politicians are starting to balk at making companies and voters in their constituencies pay higher electricity rates.

Another potential risk is that Calpine, as an electricity generator, doesn't have much experience in gas production and exploration.

Detox took a skeptical look at Calpine's aggressive buildout plans last November
***********************************************************

Die umgekehrte S-K-S könnte wirklich im Entstehen sein !

Beobachten ! .... genauso wie den Rest des Energiesektors, der zuletzt wieder etwas zurück gekommen ist. Hier sollte man sich auf die Lauer nach guten Kursen legen. die Aussichten (Naturgas vor allem) sind auf Jahre hinaus hervorragend.

Dafür ist ein Fakt verantwortlich: "Mangelndes Angebot"

Good luck

Ralph

[Trüffelschwein]

Danke, Ralph!!

Tja, ich sollte tatsächlich überlegen, MLNM in CPN umzutauschen, so wie es jetzt aussieht.

Ich habe übrigens zu Zeit auch eine andere potentielle Trüffel (aus dem MDAX) im Auge: WCM .

Sie hat letztes Jahr extrem schlecht performt, scheint aber nun - nach vollzogener Übernahme der Klöckner-Werke und Beendigung der Arbitrage-Geschäfte - wieder auf dem Weg nach Norden zu sein. Geht fast etwas zu schnell, aber man sollte den Wert m.E. im Auge behalten. Auch Mr. Andrew Lockhart von Dresdner Kleinwort Wasserstein hat sich beim n-tv Call-in am Freitag positiv geäußert.

<IMG SRC="http://cdpixel1.teledata.de/informer2/cdcharttcl?symm=WCA.ETR&hist=4&dbrushwidth=&charttype=&gd1=&gd2=&benchmark=&infos=&indtype1=&indtype2=&volumen=" border=0>

Ciao, Trüffelschwein

[Ralph]

Hi Trüffelschwein,

die WCM ist mir die Tage auch aufgefallen ... allerdings -dies aber nur kurzfristig- eher negativ, denn da hatte sie in den Candles einen glasklaren Doji ausgebildet.

Und ein solcher ungebremster Anstieg schreit immer mal nach einer Gegenbewegung, aber dann könnte man zupacken.

Wie sieht es denn fundamental aus .... ich habe Gerüchte gehört, dass das Teil in den Dax kommen könnte !

Ralph

[Trüffelschwein]

Hallo Ralph,

zunächst ist beim DAX wohl die Post dran, aber dann könnte es WCM werden.

Als Beteiligungsgesellschaft ist natürlich die Aussage von Fundamentaldaten begrenzt. Ich schaue morgen mal, ob ich was finde.

Ich bin grade auf eine weitere potentielle Trüffel gestoßen: Ein Enabler für die "Virtual Company". Hier eine Analyse von Raging Bull:

Web Calls

When it comes to the Web, we talk so much about speed, reach,
cost-cutting capability, and incremental revenue-all enhancements to
everyday life and business. But just like a computer at every child's
desk won't solve the digital divide, simply setting up shop online in
no way guarantees businesses will be able to leverage the medium and
benefit from these enhancements. Going virtual means companies save
on costs associated with land, labor, and travel. But how can
companies do this without sacrificing in areas like sales and morale?
In addition, if your business model is based on attracting customers
to an exchange or marketplace of some sort, how do you teach them
about the basics of going online, the benefits of your services, and
exactly how to conduct transactions?

The answer lies in the nascent interactive communication services
space. It's a space that has been tested vigorously along with the
majority of cyberstock companies. Most companies have had 80%-90% of
their market value stripped away. But corporate demand, a clear value
proposition, and earnings visibility have once again attracted
investors to these companies-most notably WebEx Communications (WEBX).
In addition to a great deal of due diligence, I was able to speak
with the company's chief financial officer-Craig Klosterman.

WebEx currently trades at $18-1/2-above its offering price of $14 per
share. This may at first seem trivial, but a feat worth noting as
competitors like Evoke Communications (EVOK) and Centra Software
(CTRA) have fallen below their respective offering prices. Its market
capitalization ($667 million) dwarfs these competitors by $610 and
$476 million, respectively. The company's 3,000 (+) corporate
customers make it the overwhelming leader in the space.

Services

WebEx allows people to meet and collaborate over the Internet,
combining voice, data, and video. Meetings among colleagues aren't
restricted to a one-to-many classroom type atmosphere. Instead,
documents and applications are viewed and shared. Voice over IP is
commonplace. Anyone in the virtual meeting room can take charge.
Imagine running a software startup company from central Pennsylvania
with employees in Silicon Valley, New York City, and Austin, TX, as
well as investors in Chicago, Illinois. Certainly not out of the norm
these days, it's critical the company is able to communicate in real
time and share documents as they're being created.


Value Proposition

Over the last few months, I've been speaking with management at a
number of leading B2B e-commerce marketplaces. The focus of these
conversations has centered on industry adoption and facilitating
actual transactions, which have precluded success for many of the
early B2B players. Education and functionality (ease-of-use) are
often brought up as barriers to adoption, use, and success. WebEx is
often brought up as a solution to these problems.

The company's platform allows customers to train large numbers of
clients in virtual classrooms. Additionally, customer support
representatives can take control of a customer's desktop and browser,
walking him/her through presentations, a product demo, lessons on how
to conduct transactions within a respective marketplace, or providing
"hands on" service. For example, Dell Computer customers can access http://dell.webex.com
after encountering a problem with their PC. A
customer service representative will be available to take charge and
reconfigure the software if that's the problem. House calls and
bringing your clunky PC into stores for maintenance is becoming a
thing of the past.

A Communications Platform

The WebEx architecture is composed of over 200 servers and switches
worldwide. Data runs over a private network and is never resident on
a server. In other words, data is never uploaded and stored. It's
the equivalent of a phone call. Corporate customers have been
attracted to this architecture, shying away from competitors'
server-centric solution, whereby data is uploaded to a third-party
server (an enormous security concern).

While WebEx provides service to all segments of a business (sales,
marketing, training, corporate messaging, etc.), it doesn't see itself
as specialized in one particular arena. "When the telephone came out
it wasn't focused on training, but rather (broad-based) communication"
says CFO Craig Klosterman.

Growth and Visibility

Deutsche Banc Alex. Brown analyst Jim Moore believes WebEx can
generate 75%-plus annual revenue growth over the next 3-5 years. In a
research note, he's quick to point out the emergence of "virtual
corporations," which only strengthen WebEx's model and position within
the marketplace. In what Moore describes as "interconnected business
networks," it becomes clear internal communication and collaboration
with value chain partners will become increasingly important.
"Companies save on costs associated with travel--the service pays for
itself--and all of the additional productivity (i.e. increased sales,
marketing efficiencies) is upside" according to Klosterman. So don't
expect WebEx to be adversely affected by a shakeout in online ad
spending, or substantially hurt by reductions in IT (information
technology) spending.

Recurring revenue is certainly worth noting. The company doesn't
license its software, but simply provides a service. Corporate
customers pay monthly fees. Prices are set according to the number of
users accessing the service each month, while overall time usage is
unlimited. There's also a pay-per-use feature available at the
company's Web site allowing smaller companies, that may only need to
utilize the service 1-2 times per month, to conduct meetings for 35
cents per minute/per user. The visibility resulting from the
recurring revenue streams is extremely helpful for the company as it
manages growth and investors as they manage expectations. "In a
typical quarter, we've got about 80 percent of the next quarter's
revenue done (in the books) before entering that quarter" says
Klosterman.

The Verdict

Although the company has only been offering its services since the
first quarter of 1999, it has already managed to attain over 3,000
corporate customers. In addition, the attrition rate has remained
below 5 percent since inception, proving customers are signing deals
and staying on board. Perhaps the greatest validation of the model is
Yahoo's integration of WebEx services into its corporate portal
solution. Desperate to stray away from a reliance on dot-com
advertisers, Yahoo is betting a lot of its corporate customers will
use its communications offering (powered by WebEx) to host meetings
and exchange documents. In fact, WebEx has roughly 170 partnerships
like these whereby companies enter into revenue sharing or reseller
agreements.

WebEx is positioned as a company to benefit from increased online
communication and collaboration among corporate employees and partners
across the world. The "network effect" (especially viral in the
communications space where parties are required on the other end for
activity) seems to be taking hold with over 3,000 corporate customers.
By building the company as a communications platform, rather than a
specialized service for one area of business communication (i.e.
sales), WebEx has entrenched itself by executing on a unique mission
and wi

[reg]

[Trüffelschwein]

Hier noch der Chart von WebEx:
<IMG SRC="http://cdpixel5.teledata.de/informer2/cdcharttcl?symm=WEBX.NAS&hist=4&dbrushwidth=&charttype=&gd1=&gd2=&benchmark=&infos=&indtype1=&indtype2=&volumen=" border=0>

Noch nicht wiederentdeckt. Kann bald losgehen.

Ciao, Trüffelschwein

[Trüffelschwein]

Mehr zu WebEx:


New Book, "Ten Stocks that Could Change The World" Features WebEx Communications; New Personal Finance Book Selects the Ten Publicly Traded Companies Positioned To Succeed

SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 31, 2001--WebEx Communications, Inc. (Nasdaq:WEBX), the company that powers real-time meetings on the Web, today announced that it is featured in Larry Waschka's latest book, "Ten Stocks That Could Change The World". In the book, Waschka discusses the tremendous impact real-time Web meetings are having on businesses and the technical reasons behind WebEx's strong lead in the market. The WebEx communications platform is the choice of global 1000 companies, leading business portals, Web application developers, and telecommunications providers.

"The future of real-time communications on the Web relies on WebEx because its communications platform is the best way to hold highly interactive, spontaneous Web meetings," said Larry Waschka, author of "Ten Stocks that Could Change the World" and founder of Waschka Capital Investments. "Small, interactive Web meetings represent nearly 70% of this market and WebEx is clearly the leader supporting this type of communication. WebEx has a tremendous strategic advantage and is positioned to be the leading provider of real-time communications infrastructure for the Web."

The WebEx interactive platform allows users to hold highly interactive Web meetings to review and revise documents, host presentations, demonstrate software, and share remote desktop applications-all through a standard browser. WebEx online meetings enhance business communications in areas such as sales, marketing, training, support, and partner management.

"Everyone at WebEx has worked very hard to build this company, and it is rewarding to be selected for Larry Waschka's new book," said Subrah Iyar, chairman and CEO of WebEx Communications, Inc. "With WebEx, companies can remarkably streamline the workflow process, while increasing productivity and cutting travel expenses. The companies that have already integrated WebEx meetings-Texas Instruments, PeopleSoft, Countrywide Credit, and Ricoh to name a few-have seen dramatic decreases in costs and increases in productivity and sales."

WebEx provides Web-based communications services to corporations, business portals, communications service providers, Web application providers, and online marketplaces. All of its services are built on the WebEx interactive communications platform and are supported by WebEx's global network infrastructure, ensuring scalability, reliability and predictability. WebEx's interactive communications services help its customers and partners increase their productivity and efficiency, differentiate and distinguish their product and service offerings, and enhance and diversify their revenues. WebEx services provide this collaboration functionality without requiring pre-installed software or firewall configuration.

Larry Waschka is a registered investment advisor and owner of Waschka Capital Investments (WCI) in Little Rock, Arkansas, a fee-only investment advisory firm that manages over $100 million in assets. A former financial consultant with Merrill Lynch, he has been named by Worth Magazine as one of the nations top 300 financial advisors. Waschka is the author of "The Complete Idiot's Guide to Getting Rich" and co-author of "Managing Family Trusts". Three other members of the WCI team co-authored "Ten Stocks That Could Change the World": Greg Combs, CFA; Charles Martin, Ph.D., CFA; and Robert Bacon, WCI's Chief Information Officer.

About WebEx Communications, Inc.


Founded in 1996, WebEx Communications, Inc, (Nasdaq: WEBX) is the leading provider of interactive communications infrastructure for Web meetings. WebEx's interactive platform meeting-enables the Web sites, applications and service offerings of customers and partners. End-users access these interactive services through the co-branded offerings of customers and partners as well as at www.webex.com. (http://www.webex.com.) WebEx's services enable end-users to share content and applications spontaneously in a seamless environment with integrated audio, voice and video. With its modular framework and standards-based APIs, WebEx's real-time communications platform is the "dial-tone" for meetings on the Web. Please call (877) 932-3911or visit http://www.webex.com for more information.

Editors should contact Colin Smith at Antenna Group (415) 977-1912 or colin@antennapr.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by use of the terms anticipates, believes, continue, could, estimates, expects, intends, may, plans, potential, predicts, should or will, or the negative of those terms or similar expressions. These forward-looking statements are subject to significant risks and uncertainties. Actual results may differ materially from those described in such statements as a result of these risks and uncertainties. In particular, these forward looking statements include, but are not limited to, statements that WebEx will change the world, be the leading provider of real-time communications infrastructure for the Web and that the WebEx services improve customers' productivity and efficiency, differentiate their products and services, and enhance and diversify their revenues. Factors which could contribute to risks and uncertainties include, but are not limited to, the failure of customers to adopt the WebEx service and use it effectively in their business and the failure of WebEx customers to decrease their other expenses. A fuller discussion of the risks and uncertainties that could affect WebEx Communications, Inc. are more fully set forth in WebEx's filings the Securities and Exchange Commissio, including WebEx's Form 10-Q filed on November 14, 2000. WebEx Communications, Inc. assumes no obligation to update forward-looking information contained in this press release.

CONTACT: Antenna Group, for WebEx
Colin Smith, 415/977-1912
colin@antennapr.com


Das genannte Buch werde ich mir mal besorgen.

Ciao, Trüffelschwein

[Ralph]

Hi Trüffelschwein,

im Dax sollten aber zwei Plätze frei werden, weil vermutlich Adidas und Karstadt rausfliegen ..... einer davon wird durch die Post besetzt und der andere ?

Ralph