A year ago, I was running process improvement experiments for my former employer on the machines that make Huggies Diapers. Virtually all of my retirement savings were nestled snugly in either a low cost, broad market index fund or the blue chip stock of my Fortune 100 employer. While I was already studying businesses compulsively, nobody saw me as an expert. My stock opinions were certainly not in demand.

Six months later -- last August -- I was writing my first in-depth profiles of top-dog business models in important, emerging industries. The Motley Fool Rule Breaker team -- with me suddenly on the roster -- was closing in on another purchase. The team was putting its best ideas on the table, and my contributions were leading Enterprise Application Service Provider (ASP) USinternetworking (Nasdaq: USIX) and the king of the hill in Internet-based business-to-business (B2B) procurement, Ariba (Nasdaq: ARBA).

Ultimately, the team chose not to buy either of my suggestions, but Ariba was seriously considered. Reader response to my early analyses was encouraging. My confidence grew.

Now another six months has passed, and it occurred to me, the other day, that it's time to check back on these two companies, the first two potential Breakers I unearthed. Do I have anything to crow about? Am I building credibility? In the table below, I've dutifully highlighted my Breaker candidates in bold. Let's take a peek.

B2B and ASP Players
Stock Return since 8/28/00 (Biggest losers on top)
Also Includes:
Market Cap (in millions)
Trailing Twelve Months Revenue (in millions)
Market Cap Multiple to Revenue
Year-over-Year Revenue Growth

                                          Y-Y
                          Mkt   TTM  Cap  Rev
Week of:8/28   2/5 Loss   Cap   Rev   to Grth
        2000  2001 (%)    (M)   (M)  Rev  (%)

Nasdaq  4234  2562 -39

B2B
CLRS    62.3   7.8 -88    122    37  3.3  -12
ONVI     7.0   1.1 -84     79   148  0.5  443
ARBA   166.3  27.9 -83   5964   426 14.0  587
FMKT    82.9  23.9 -71    900    91  9.9  337
CMRC 66.0 26.3 -60 4695 402 11.7 1097 ITWO 89.6 45.8 -49 16360 1126 14.5 97 PPRO 28.8 15.4 -47 1056 65 16.2 980 ORCL 46.3 27.1 -41 128500 10745 12.0 15 PSDI 19.4 17.1 -12 367 172 2.1 15 ASP BWAY 13.0 1.3 -90 62 99 0.6 469 USIX 10.0 3.0 -70 236 87 2.7 255 CRIO 11.9 3.7 -69 165 44 3.8 653 INIT 12.9 4.7 -64 194 129 1.5 173 ELCO 5.9 3.8 -35 108 318 0.3 -35

Ariba is down over 80% -- more than double the plunge of the overall Nasdaq composite, over this same period. Ariba's most direct competitors -- Commerce One (Nasdaq: CMRC), i2 Technologies (Nasdaq: ITWO), and Oracle (Nasdaq: ORCL) -- also trail the Nasdaq, but Ariba has lost 20% more than any of these. USi has lost a "mere" 70%, sliding -- along with its brethren -- into Fool's no man's land, the dreaded penny stock zone.