文档介绍：S
Portfolio Strategist
A WEEKLY FOR PROFESSIONAL INVESTORS
March 12, 2003 Volume 21, No. 11
The New Investment Diet Fad .................................................................................................................. 3
Almost three years since the Nasdaq’s peak, investors have abandoned the “cult of
equities” of the 1990s (as measured by mutual fund outflows) and e obsessed
with protecting principal. As a result, they have shifted their attention to bonds,
seemingly unaware of the potential harm that this “diet” poses. Tobias M. Levkovich
The Cost of Waiting ................................................................................................................................. 6
Divisions between the . and its allies over Iraq have left many contemplating a less
secure world. While this drama unfolds, the latest data have been discouraging, as it
increasingly seems a timely and favorable e in Iraq will be a necessary pre-
condition to avoid further deterioration in the . economy. Steven Wieting
Technology—General: Results of Our New Vendor Choice Survey ........................................................... 8
Using the results of our initial quarterly CIO Vendor Choice Survey, we analyze the
spending patterns related to key vendors in several tech-related industries.
Heather Bellini, CFA/Patrick Burton, CFA/Dan Cummins/Craig Ellis/
Richard Gardner/Alex Henderson
Great Lakes Chemical: More Strategic Clarity and an Attractive Valuation ........................................... 11
On March 5, we upgraded GLK to Outperform (1H) and raised our price target to
$28 from $24. The strategic acquisition of Lime-O-Sol gives us more confidence in
Great Lakes’s use of cash, and we believe it has improved its business costs and balance
sheet. Gil Yang
Paper & Forest Products: Reducing Near-Term Estimates; “Out-Year” Numbers Barely Touched .......... 13
We are trimming EPS estimates to reflect an ong