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2001

Making Sense of the Jewelry Stocks

April 2001

Company	Current (3/14/01)	Last year (1/20/00)	52-week LOW	52-week HIGH
Tiffany & Co (TIF)	29.56	82 15/16	26 3/4	45 3/8
De Beers (DBRSY)	41	28 1/2	18 3/16	43 7/8
Zale Corp. (ZLC)	30.51	42 13/16	23.37	51
QVC (CMCSA)	40 13/16	70 1/8	27 15/16	45 13/16
USA Networks (USAI)	22 3/4	53 9/16	16 3/16	25 15/16
Jostens (JOS)	25 3/16	24	17 1/4	25 3/16
Reeds (RJI)	1.3	3 1/16	.87	3.25
Lazare Kaplan (LKI)	5 3/4	9 1/4	4.62	9 3/4
JC Penney (JCP)	16.95	20 9/16	8.62	19.62
Michael Anthony (MAJ)	1.8	3 1/8	1.43	3
OroAmerica (OROA)	8 3/4	6 9/32	5 7/8	9

The jewelry stock comparison chart above shows that most diamond and jewelry stocks did much better than the technology sector in 2000.

Special winners were Tiffany & Co., which split 2:1 last year, and De Beers, which is currently the subject to a private takeover. All others were above their 52 week low as of March 14, when the overall market was hitting new lows. On the other hand, none were close to their yearly highs, which is no surprise, given the general market conditions.

Recent reports on declining sales (see page 3) may not bode well for the coming year, but the assets they invested in diamonds, gold and other precious metals certainly have held their value. Therefore, companies should hold out well even if a minor recession comes to fruition in 2001.

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