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The Softness in Software

Q: There have been forecasts of increased corporate IT spending. Have you seen any signs of that yet?

A: It's too early to tell. However, broadly speaking, due to the disparate types of software companies that have preannounced disappointing results, it looks like 2005 may be a much more challenging year than investors had anticipated for the software sector as a whole.

Q: You named Siebel as a sell. Any other software names investors should unload?

A: We actually downgraded shares of Interwoven

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