March was an angry
month.
Instead of
a march it was a retreat. 2005 continues
to be a disappointing year.
But look on the bright side. Wednesday
produced a rally to warm the heart. It was
the market's best day in some four months.
It felt like old times.
Perhaps it's a sign that the winter ice is
finally breaking. Perhaps before too long
we'll look back at this time and
smile.
But for now, all we can do is shake our
heads and lament the poor performance
of so many of our stocks.
The table
below shows the first quarter
return for each of the stocks in the GTI.
In the case of companies that were not
in the GTI for the full period, the return
is for the GTI portion only.
|
Symbol |
1st Quarter
Return |
Note |
|
NSM |
+
15% |
|
|
TERN |
+
14% |
|
|
WIND |
+
11% |
|
|
CHRT |
+
4% |
Dropped 2/11 |
|
TXN |
+
4% |
|
|
GLW |
+
2% |
Added 3/25 |
|
NETL |
+
2% |
Added 1/28 |
|
TSM |
- 0% |
|
|
INTC |
- 1% |
|
|
EQIX |
- 1% |
|
|
SKM |
- 1% |
Added 2/11 |
|
XLNX |
- 1% |
|
|
ADI |
- 2% |
|
|
CPHD |
- 3% |
|
|
ALTR |
- 4% |
|
|
BRCM |
- 7% |
|
|
A |
- 8% |
|
|
FON |
- 8% |
|
|
SMI |
- 9% |
|
|
ZRAN |
- 11% |
|
|
FLEX |
- 13% |
|
|
QCOM |
- 14% |
|
|
MVIS |
- 17% |
|
|
KEYW |
- 19% |
|
|
SYNA |
- 24% |
|
|
AMD |
- 27% |
|
|
LNOP |
- 43% |
|
|
PWER |
- 46% |
|
|
JDSU |
- 47% |
|
|
BWNG |
- 55% |
|
Returns for Week Ended
April 1:
Gilder Technology
Index (GTI): - 0.8%
Nasdaq Composite Index (NSD):
- 0.3%
S&P 500 Index (S&P): +
0.1%
Historical Returns:
|
|
GTI |
NSD |
S&P |
|
1997 (est'd) |
21% |
22% |
31% |
|
1998 (est'd) |
48% |
40% |
27% |
|
1999 |
284% |
86% |
20% |
|
2000 |
- 44% |
- 39% |
- 10% |
|
2001 |
- 43% |
- 21% |
- 13% |
|
2002 |
- 56% |
- 32% |
- 23% |
|
2003 |
130% |
50% |
26% |
|
2004 |
3% |
9% |
9% |
|
2005 to Date |
- 12.2% |
- 8.8% |
- 3.2% |
|
Avg for 8+ yrs |
8.7% |
5.4% |
5.7% |
|
Last 52 wks |
- 19% |
- 4% |
3% |
Since the high
of 3/06/00 |
- 82% |
- 61% |
- 23% |
Since the low
of 10/09/02 |
211% |
78% |
51% |
Makeup of the GTI:
The GTI companies are those
"Telecosm
Technologies" in the Gilder Technology
Report whose stock is readily available to
investors. If a company is not traded on the
NYSE, AMEX, or NASDAQ National Market,
it is not in the GTI.
The Dick Sears
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