MONEY MANAGER MONITOR
FOR THE WEEK ENDED MAY 18, 2001
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THIS WEEK:

***NOTABLE CONTACT MOVEMENTS
***MERGERS & ACQUISITIONS
***NEWS
***13F: IRRECONCILABLE DIFFERECES: BOWMAN AND PEQUOT FACE BREAKUPS
***13F: ORIGIN CAPITAL MAINTAINS DEVOTION TO HEALTH CARE
***13F: GALLEON FAVORS BIOTECH, COMPUTERS
***SECTOR COVERAGE: ALLIANCE CAPITAL MANAGEMENT L.P.

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NOTABLE CONTACT MOVEMENTS

U.S.:

*CAROL ANN BAKER, formerly an assistant portfolio manager with Bear Stearns
Asset Management, Inc., left the firm at the end of April.

*THOMAS BARRETT, formerly a portfolio manager with MFS Investment
Management, recently joined Sirios Capital Management as a portfolio
manager.  Barrett joins former MFS colleagues Christian Felipe and John
Brennan. During his tenure at MFS, Barrett co-managed the Massachusetts
Investors Growth Stock Fund and Fortis Series Fund- Investors Growth Series.

*TONY FIORINO recently joined Citigroup Global Asset Management in Stamford,
CT as a security analyst.  Prior to joining the firm, Fiorino was a
sell-side equity analyst covering pharmaceuticals at J.P. Morgan Securities
Inc.

*The global equity research department at Boston-based Putnam Investment
Management, Ltd. experienced three analyst departures recently. Security
analyst MICHAEL FLEMING formerly followed the paper & forest products, oil
services and railroads sector. Picking up coverage of oil services is Jim
Falvey. JENNIFER MURPHY previously followed telecom equipment. The telecom
equipment coverage was split up between John Boselli, who covers wireline
equipment, and Joseph Hosler, who covers wireless equipment. VINCENT
VLIEBERGH previously followed chemicals and global oil. There is no
replacement on these sectors as of yet.

*EDMOND GRIFFIN recently joined State Street Research & Management as an
analyst/generalist on the small-cap team.  Prior to joining State Street,
Griffin was employed by an investment bank.

*JAMES J. HENSEL, formerly the director of research at Old Kent Bank & Trust
Company, left the firm approximately three weeks ago.

*ELLEN HUANG, formerly a portfolio manager with New York-based Train Smith
Counsel, recently left the firm.

*THEODORE H. JARVIS, formerly a senior vice president and portfolio manger
at Muncie, IN-based American National Trust & Investment Management, left
the firm in March 2001.  Terri Matchett has taken over his position and
responsibilities.

*CHIAN JIANG is expected to join Westfield Capital Management in July as an
analyst covering life sciences and biotechnology.

*RICHARD LANE and GLENN PRIMACK, formerly portfolio managers with Milwaukee,
WI-based Fiduciary Management, Inc. and co-portfolio managers on the FMI
Focus Fund, have launched their own venture.  Originally the firm expected
to operate as Lane Primack Asset Management, however, has instead taken on
the name Broadview Advisors.  The firm began operating in the beginning of
May and currently operates from Fiduciary Management's offices, but is
expected to move to a new location in the next few months.  Broadview has
also recruited JEFFREY NETOLS, formerly a portfolio manager with Putnam
Investment Management, and RICHARD WHITINGS, a former trader with Cleary
Gull Reiland McDevitt Inc. and Vector Securities Inc.  Prior to Netols'
departure from Putnam Investment Management, Inc., he managed the Putnam
Small Cap Value Fund and the Putnam VT Small Cap.

*SHEEL PATEL recently joined Greenville, DE-based Kalmar Investments as a
research associate.  Previously, Patel served as a security analyst
following capital goods, energy, banking, healthcare, technology, basic
materials, and consumer services for Affinity Wealth Management (formerly
COMPU-VAL Investments, Inc.) until March 2001.

*KATHERINE SCHAPIRO, CFA, and STACEY HO, CFA recently joined Strong Capital
Management, Inc. as co-portfolio managers of the Strong Overseas Fund,
Strong International Stock Fund, and Strong Foreign MajorMarkets(SM) Fund
replacing David Lui who recently left the firm to pursue other interests.
The duo was previously employed by Wells Capital Management, Inc., where
they co-managed the Wells Fargo Core Trust International Equity Fund and the
Wells Fargo International Equity Fund.  Cynthia Tussan, who was recently
promoted to a portfolio manager at Wells Capital, is now managing both
funds.

*JEFFREY JAMES SCHAPPE was recently named as a vice president and director
of research at Portsmouth, NH-based Citizens Advisers, Inc.  Previously, he
served as senior vice president and director of equity research with George
K. Baum & Co.

*JAMES P. STOEFFEL, formerly a security analyst and vice president covering
leisure staples and retail for Palisade Capital Management, L.L.C., left the
firm in March 2001.

*DAVID W. WHITTALL, formerly a senior security analyst covering global
infrastructure, energy/electricity, transportation and capital goods at
Montgomery Asset Management, L.P., left the firm in May 2001. Glenn Hilton
who worked with Whittall on the Global Infrastructure team was promoted to
the senior security analyst position.

SELL-SIDE:

*WILLIAM FOGEL joined First Union Securities' New York office in May 2001 as
a senior equity analyst covering the alternative energy and power technology
sector.  Prior to joining First Union, Fogel was a vice president and senior
equity analyst covering alternative energy and utility companies at
FAC/Equities.

*CYNTHIA HATSTADT, formerly a security analyst at Robertson Stephens & Co.,
left the firm approximately one month ago.

*Prudential Securities Inc. announced that DANIEL HEMME has joined the firm
as a senior equity analyst covering transportation and logistics.  Prior to
joining Prudential, Hemme was the first director of business development at
the Airborne Freight Corporation for 11 years.

*Dresdner Kleinwort Wasserstein announced the appointment of ROBERT J. HOEHN
as the director of North American equity research. Hoehn will assume
responsibility of the firm's equity research staff of over 30 senior
analysts.  Prior to joining Dresdner Kleinwort Wasserstein, Hoehn was the
director of North American equity research at ING Barings, which was
acquired by ABN AMRO, Inc. in 2001.  Also joining Dresdner Kleinwort
Wasserstein are senior analysts THOMAS WYMAN and WESLEY MAAT.  Wyman
recently joined Dresdner's San Francisco office as an equity analyst
covering the media and entertainment sector.  Previously, he was an equity
analyst covering the Internet retail sector at J.P. Morgan Securities Inc.
Maat joined Dresdner Kleinwort Wasserstein as a vice president and equity
analyst covering the oil services sector.  Previously, he was an equity
analyst covering energy oil services and equipment at Deutsche Banc Alex.
Brown.

*RICHARD JACOBS, formerly a first vice president and security analyst
covering a wide range of technology companies at Janney Montgomery Scott,
L.L.C., left the firm on May 5, 2001.

*MARK MORGAN left Putnam Lovell Securities Inc. in March 2001.  Previously,
Morgan was a vice president and a sell-side analyst covering e-finance and
West Coast banking companies at Putnam Lovell Securities Inc.

*JACKSON E. SPEARS, formerly an analyst covering business and computer
information services with ABN AMRO, Inc., left the firm in February 2001.

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MERGERS & ACQUISITIONS

*May 15, 2001- Bank of Montreal agreed to acquire Guardian Capital Group
Ltd.'s fund business.  Toronto-based Guardian Group of Funds will operate
independently of Bank of Montreal's fund businesses, which include BMO
Mutual Funds, Harris Insight Funds in the U.S., BMO Nesbitt Burns Funds, and
Jones Heward Funds. Guardian Capital will continue to manage some of the
funds.  The deal is expected to be complete this summer.

*May 14, 2001- SunTrust Banks agreed to acquire the institutional business
of Robinson-Humphrey.  The deal is expected to be complete at the end of the
summer.  Upon closing SunTrust Equitable Securities will be renamed SunTrust
R-H Securities Inc. and the newly acquired business will be combined with
SunTrust's existing equity capital markets and M&A divisions to become the
Robinson-Humphrey Equity Capital Markets division of SunTrust R-H Securities
Inc.  This announcement came a day after SunTrust announced that it was
bidding against First Union Corp. to acquire Wachovia Corp.

-----------------------------------------------------------

NEWS

*As a result of the merger between Milwaukee-based Firstar Corporation and
Minneapolis-based U.S. Bancorp on February 27, 2001, the asset management
divisions of the companies, which include Firstar Investment Research &
Management Co., LLC, (FIRMCO) and First American Asset Management, have been
consolidated under the U.S. Bancorp Piper Jaffray Asset Management, Inc.
name.

*The TD Asset Management 13F filing for the quarter ended March 31, 2001 now
includes the assets of the Canada Trust Group of Companies, including the
former CT Private Investment Council. TD acquired CT in February 2000 and
subsequently the CT investment team and assets were combined with those of
TD.

*Following the recent break-up of Pequot Capital Management and technology
guru Dan Benton, San Mateo, CA-based hedge fund Bowman Capital is rumored to
be following suit. In an article in Barron's on Saturday May 12, 2001, it
was announced the Bowman's two principals, Larry Bowman and John Hurley,
might be going their separate ways.

The firm manages the Spinnaker Technology Fund, L.P., the Spinnaker Offshore
Fund, LTD, the Spinnaker Crossover Fund, the Spinnaker Founders Fund, and
Offshore Founders Fund, LTD. As of December 31, 2001, Bowman managed
approximately $4.2 billion in equity assets according to a 13F filed with
the SEC. This was a significant decrease from the quarter before when the
firm reported $9.8 billion in equity assets invested in approximately 170
companies.  For the first quarter ended March 31, 2001, Bowman Capital
reported ownership of 116 companies, valued at $3.0 billion.

*Effective June 1, 2001, MFS Investment Management and Jennison Associates
LLC will replace Nicholas-Applegate Capital Management, L.P. as sub-advisers
for the Allmerica Trust- Select Aggressive Growth Fund, with $843.5 million
in equity assets as of December 31, 2000.

*The American Odyssey Funds have been renamed the CitiStreet Funds. The
American Odyssey Core Equity Fund is now known as the CitiStreet Large
Company Stock Fund; the American Odyssey Emerging Opportunities Fund is now
the CitiStreet Small Company Stock Fund; and, the American Odyssey
International Equity Fund is now the CitiStreet International Stock Fund.

*Sources at Fidelity Management & Research have stated that there may have
been a bug in the firm's reporting system that affected some filings. This
may have caused some ownership declines to be overstated. For example, the
reported position of AOL Time Warner was 100 shares when in fact the actual
position was 113,814,663 shares. Fidelity restated its holdings in an
amended 13F filing on May 16, 2001.

-----------------------------------------------------------

13F: IRRECONCILABLE DIFFERECES: BOWMAN AND PEQUOT FACE BREAKUPS

Following the collapse of Long Term Capital Management, a number of the
remaining billion-dollar hedge funds have continued to be troubled by poor
investment returns and management shake-ups.  With Julian Robertson and
George Soros out of the picture, some of the smaller funds have continued to
drop out of the running or morph their institutions.  The recent months and
days of 2001 have seen the breakup of Pequot Capital Management's ARTHUR
SAMBERG and DANIEL BENTON and the reported breakup of Bowman Capital's LARRY
BOWMAN and JOHN HURLEY.

For the first quarter ended March 31, 2001, Bowman Capital reported
ownership of 116 companies, valued at $3.0 billion, a sharp decline from the
previous quarter, when the firm reported ownership of 132 companies, valued
at $4.2 billion.  One year ago, for the first quarter of 2000, Bowman
reported ownership of 224 companies valued at $12.0 billion.

Bowman first made a name for itself riding the cusp of the technology boom.
The firm aggressively invested in technology while hedging its bets.  One
year ago, the firm's average portfolio P/E was neatly double the average P/E
of the S&P 500.  It has since fallen dramatically, to only slightly above
the S&P.

In an article in Barron's on Saturday May 12, 2001, it was reported that
Bowman's two principals, Larry Bowman and John Hurley, would be going their
separate ways.  The firm has not responded.  The breakup, it is widely
believed, is a result of lagging performance in a difficult market.  While
the firm shorts and hedges against potential downturns, the firm's
technology focus may have left it few places to hide.  Bowman has also made
notable efforts in recent years to expand its involvement in private equity
and mezzanine financing.  It even opened a new office in London to focus on
European venture capital.

During the dot.com boom, venture capital was an excellent way to get
involved in high-tech companies on the ground floor.  As the IPO market has
shriveled up and technology stocks have fallen out of favor, Bowman has been
left holding long positions in companies that benefited from an opening IPO
pop, but that suffered following the downturn.  One such example was
fiber-optic communications equipment maker Oni Systems Corp. [ONIS].  Bowman
was on the ground floor of the company, supplying it with private financing.
Shortly after the firm's 2000 IPO, the stock reached an all time high of
142.0.  On May 17, 2001, the company closed at 33.15.

Bowman's top five new purchases for the quarter included: Lexmark
International Inc. [LXK] with 1,000,000 shares (valued at $45.5. million);
Compaq Computer Corp. [CPQ] with 2,220,000 shares (valued at $40.4 million);
Mercury Interactive Corp. [MERQ] with 800,000 shares (valued at $33.5
million); Rambus Inc. Del [RMBS] with 1,600,000 shares (valued at $33.0
million); and, Apple Computer with 1,379,600 shares (valued at $30.4
million).

Bowman's top five holdings for the first quarter included: Microsoft Corp.
[MSFT] with 6,258,100 shares (valued at $342.2 million); EMC Corp MA [EMC]
with 5,372,000 shares (valued at $157.9 million); Qualcomm Inc. [QCOM] with
2,746,240 shares (valued at $155.5 million); Oracle Corp. [ORCL] with
8,568,500 shares (valued at $128.4 million); and, Sonus Networks Inc. [SONS]
with 6,400,000 shares (valued at $127.7 million).

Arthur Samberg and Daniel Benton, the managers and founding partners of
hedge fund giant Pequot Capital Management, are also ending their
partnership, it was reported last month.  Benton is reportedly leaving to
run his own hedge fund, Andor Capital Management. Samberg will remain at
Pequot and continue to manage the Westport, CT-based firm.

The split, it has been reported, was not a result of poor performance, or
souring market conditions; such conditions were responsible for the downfall
of Soros Fund Management and Julian Robertson's Tiger Management. The split
is reportedly a result of differing opinions and visions of Pequot's future.
Benton, a technology specialist, wanted to continue to make large bets, long
or short, on technology, while Samberg was interested in further
diversification. The fund has also struggled under a growing asset base. In
a letter to shareholders following the fourth quarter, the firm reported in
excess of $15 billion in net assets under management. However, in its 13F,
filed for the quarter ended December 31, 2000, the firm reported ownership
of 493 companies, valued at $7.6 billion, a sharp decrease from the first
quarter of 2000, when the firm reported ownership of 517 companies valued at
$16.5 billion.  For the first quarter ended March 31, 2001, the firm's
reported equity asset declined again, to a reported ownership of 563
companies, valued at $6.4 billion.

Pequot's top five new purchases included: Qwest Communications International
Inc. [Q] with 5,608,900 shares (valued at $196.6 million); Electronic Arts
[ERTS] with 3,617,100 shares (valued at $196.2 million); Philip Morris Cos
Inc. [MO] with 2,300,000 shares (valued at $109.1 million); NTT DoCoMo Inc.
with 6,065 shares (valued at $105.5 million); and, Invitrogen Corp. [IVGN]
with 1,779,000 shares (valued at $97.6 million).

Pequot's top five holdings included: Qwest Communications International Inc.
[Q] with 5,608,900 shares (valued at $196.6 million); Electronic Arts [ERTS]
with 3,617,100 shares (valued at $196.2 million); Pfizer Inc. [PFE] with
4,722,853 shares (valued at $193.4 million); Curagen Inc. [CRGN] with
6,450,500 shares (valued at $151.2 million); and, Incyte Genomics Inc.
[INCY] with 9,343,700 shares (valued at $143.4 million).


----------------------------------------------------------------------------
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13F: ORIGIN CAPITAL MAINTAINS DEVOTION TO HEALTH CARE

Founded in 2000, San Francisco-based hedge fund Origin Capital Management
hit the ground running in its first year in operation.  Launched at a time
when the markets were on very shaky ground, the firm reported $620.9 million
in equity assets for its first 13F filing for the quarter ended December 31,
2000.  Walter "Buzz" Burlock, a former Soros Fund Management managing
director, spearheaded this new venture to invest in both public and pre-IPO
companies predominately in the health care sector.

For the quarter ended March 31, 2001, the firm reported $428.3 million in
equity assets invested in a portfolio of 96 companies, a decrease of
approximately $200.0 million dollars from the prior quarter.

Not surprisingly, health care and biotechnology were the most heavily
weighted sectors in Origin's portfolio.  Approximately, 52.4% of the
portfolio was invested in biotech companies, followed by health care, which
comprised 23.7% of the portfolio.  Consumer staples was the next most
heavily weighted sector, with 10.2% of the portfolio, giving it a slight
edge over drugs/pharmaceuticals, which comprised 7.3% of the portfolio.

Although the majority of the portfolio (50.2%) fell in the large-cap arena,
there was a fairly large representation of mid- and small-cap companies,
with 21.2% and 28.6%, respectively.

New positions for the quarter included a 200,000 share position in Elan
Plc-ADR [ELN]; a 200,000 share position in Alza Corp. [AZA] valued at $8.1
million; 150,000 shares of AstraZeneca Plc-ADR [AZN] valued at $7.2 million;
100,000 shares of Bristol Myers Squibb Co.  [BMY] valued at $5.9 million;
and, 80,800 shares of Teva Pharmaceutical Industries Ltd.- ADR [TEVA] with
80,800 shares valued at $4.4 million.

Top five holdings for the quarter ended March 31, 2001, included: McKesson
HBOC Inc. [MCK] with 1,218,600 shares valued at $32.6 million; Boston
Scientific Corp. [BSX] with 1,607,000 shares valued at $32.4 million; Biogen
Inc. [BGEN] with 510,000 shares valued at $32.3 million; Genentech Inc.
[DNA] with 536,200 with $27.1 million; and, Quintiles Transnational Corp.
[QTRN] with 807,450 shares valued at $15.2 million.

-----------------------------------------------------------

13F: GALLEON FAVORS BIOTECH, COMPUTERS

For the first quarter ended March 31, 2001, Galleon Management L.P. reported
ownership of 131 companies valued at $1.2 billion, a decline from the
previous quarter when the firm reported ownership of 105 companies valued at
$1.7 billion.  It most recent filing is a notable decline from less than a
year ago, when the firm reported ownership of 147 companies valued at over
$2.7 billion.

The high profile fund run by hedge fund guru Raj Rajaratnam is just one of
several hedge funds that have seen their assets under management decrease
amid a slumping technology market.  Recent weeks and months have seen high
profile splits in hedge funds such as Pequot Management Inc. and Bowman
Capital Management, L.L.C.

Top five micro sector weightings for the firm included biotechnology with
12.8%, computer hardware (10.9%), computer software (10.9%), health care
(drugs/pharmaceuticals) (10.1%), and computers (networking) (9.0%).

Some of the firm's expanded interest in the biotech and health care sectors
may be a result of the recent addition of SAMUEL NAVARRO.  Navarro, formerly
a managing director and sell-side global head of Health Care Corporate
Finance at ING Barings, recently joined the firm as an analyst and managing
director of the Galleon Group Health Care Fund.  Navarro's addition follows
the departure of PREM LACHMAN, formerly a partner and portfolio manager
providing coverage of the pharmaceuticals, contract services and
distribution sector.  Lachman launched his own venture, Maximus Capital,
with the help of former Moore Capital Management professional Joanne Soja
and former Morgan Stanley Dean Witter portfolio manager Teresa McRoberts.

Many of Galleon's other offerings tend to weigh more heavily in tech,
including the Galleon Omni Fund (formerly known as Needham Omni Fund), the
Calypso Advisors LLC and Needham Emerging Growth Partners, LP.

Top five holdings for the quarter ended March 31, 2001 included: Corvis
Corp. [CORV] with 11,050,000 shares (valued at $77.7 million); Nasdaq 100
Trust [QQQ] with 1,850,000 shares (valued at $72.4 million); Microsoft Corp.
[MSFT] with 1,050,000 shares (valued at $57.4 million); Compaq Computer
Corp. [CPQ] with 2,000,500 shares (valued at $36.4 million); and, Gateway
Inc. [GTW] with 2,094,800 shares (valued at $35.2 million).

Top five new purchases included the firm's largest holdings: switching and
routing equipment maker Corvis Corp. as well as Compaq and Gateway.
Rounding out the top five are Texas Instruments Inc. [TXN] with 1,000,000
shares (valued at $31.0 million) and Exodus Communications Inc. [EXDS] with
2,050,000 shares (valued at $22.0 million).

---------------------------------------------------------

SECTOR COVERAGE: ALLIANCE CAPITAL MANAGEMENT L.P.

*PAUL RISSMAN: Director of Global Equity Research
*MIKE BALDWIN: Associate Director of Research

*CHRIS ARISTIDES: Internet software & security and enterprise hardware &
storage
*ROBERT ASHTON: telecommunications services
*JACQUES BOUTHILLIER: machinery, building products, hardware & tools,
pollution control, paper, paper products and containers
*VINCENT DUPONT: optical components
*NORMAN FIDEL: pharmaceuticals and healthcare services
*ANDREW FRANK: enterprise software & communications semiconductors
*MARISA GILLIAM: printing, publishing & advertising
*LISA HINTZ: insurance, brokerage & money management
*KATHLEEN KOLTES: quantitative analysis
*LARRY KREICHER: economist
*VIVIAN LEE: airlines, leisure, restaurants, lodging, education services and
toys
*SUSANNE LENT: multi-industry, rails, electrical group, and
aerospace/defense
*KRISTIN MANTON: retail, apparel, department stores, and apparel/footwear
*SCOTT MCELROY: beverages, food, retail food & drug, household products &
personal care
*KOMAL MISRA: IT services, mainframes, mainframe software, and contract
manufacturing
*MATTHEW MURRAY: biotechnology, medical products, and healthcare information
technology
*RICHARD NEWITTER: quantitative analysis
*TANYA ODOM: food and tobacco
*NITA PATEL: business processors and wireless data
*AMY RASKIN: networking & telecom equipment
*TOM SCHMITT: oil & oil service and commodity/specialty chemicals
*JANE SCHNEIROV: multi-industry, automotive and connectors
*GERRI SOMMERS: retail, hardlines & discounters, and Internet retailers
*FRANK SUOZZO: banks, credit, government sponsored enterprises & thrifts
*THANH TRAN: media & entertainment and broadcasting/cable
*ANNIE TSAO: electric utilities, natural gas pipelines, and independent
power producers
*JANET WALSH: semiconductors and semiconductor equipment
*STEVEN WELLER: telecommunications services and satellites

----------------------------------------------------------

NOTE: Positions reported are derived from 13F filings, which do not include
cash figures, and may not be representative of a firm's equity assets as of
March 31, 2001. In addition, if a firm is hedged with many short positions,
when reversed they may appear as net purchases.

-----------------------------------------------------------


Questions, comments or if you would like the MMM staff to investigate any
news heard on the Street, please send inquiries to
staff@news.moneymanagermonitor.com, or call (212) 510-9263.

--------------------------------------------------

?Money Manager Monitor. 2001. Although no assurance can be given for its
accuracy, the information contained in this report was obtained from sources
considered reliable.

Except for making one printed copy of this document, published by The Money
Manager Monitor, it may not be reproduced, republished, broadcast or
otherwise distributed without prior written permission from The Money
Manager Monitor.





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