2004 Review
2004
was a curious year for Gilder stocks. For every one of them that was up, there
were two that were down. Yet the
GTI eked out a 2.5% gain. Essentially, a few great performers drowned out a much larger number of
poor performers. If you held the right companies, you had a great year. But if you had
the
wrong ones, you got murdered. If you owned a broad mixture, like the GTI, then you pretty much broke even.
Stocks worthy of special mention: Sprint (FON),
Essex (KEYW), and Synaptics (SYNA) all more than doubled.
Qualcomm (QCOM) was up 57%, pretty good for a large cap. It
saved many a Gilderite's hide this year.
Advanced Micro Devices (AMD) was up 48% for the full year, even though the
Philadelphia chip index (SOXX) fell 15%. Not one of
our other chip stocks managed a gain for the full year.
The table below gives the 2004 return for each of the GTI stocks. For companies
that were not in the GTI for the full year, the return is for the GTI portion only.
| Symbol | Return | Comment |
| FON | + 121% | |
| KEYW | + 116% | |
| SYNA | + 104% | |
| QCOM | + 57% | |
| WIND | + 55% | |
| EQIX | + 52% | |
| AMD | + 44% | added in January |
| LNOP | + 43% | |
| ENER | + 40% | dropped in August |
| UMC | + 9% | dropped in March |
| ARMHY | + 8% | dropped in January |
| TMTA | + 6% | dropped in March |
| CPHD | +4% | |
| BRCM | - 5% | |
| TSM | - 5% | |
| FLEX | - 7% | |
| CY | - 7% | dropped in March |
| MVIS | - 8% | |
| ALTR | - 9% | |
| NSM | - 9% | |
| TXN | - 11% | added in March |
| PWER | -12% | added in May |
| JDSU | - 13% | |
| A | - 18% | |
| ADI | - 19% | |
| XLNX | - 23% | |
| SMI | - 26% | added in March |
| INTC | - 27% | |
| LNVGY | - 30% | dropped in December |
| ZRAN | - 36% | added in February |
| MCDTA | - 37% | dropped in December |
| TERN | - 40% | |
| CHRT | - 40% | |
| SNCI | - 43% | dropped in October |
| BWNG | - 46% | |
| PROX | - 50% | dropped in August |
| AVNX | - 53% | dropped in August |
| CIEN | -72% | dropped in August |