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