listen to these guys at your peril. who knows what the best companies will be next year.
regards
New York, April 27 (Bloomberg) -- A comment on Internet stocks, by Merrill Lynch & Co. analyst Henry Blodget:
Blodget said the Internet is too important an industry for investors to ignore. ''It's possible in 10 to 20 years we'll look back on this period in the way we now look at the Industrial Revolution,'' he said at the Ira W. Sohn Investment Research Conference, benefiting the Tomorrows Children's Fund, in New York.
Blodget recommended investors buy ''a basket of the best companies,'' including America Online Inc., Amazon.com Inc., Yahoo! Inc., eBay Inc. and At Home Corp.
For investors who are wary of investing in pure Internet companies, it's still possible to participate in the industry's growth, he said. ''Given the importance of the Internet's growth in the economy, it seems something investors should invest around'' by buying shares of AT&T Corp., Microsoft Corp. and Cisco Systems Inc., among others, Blodget said, because those companies include Internet operations although it's not their main business.
He said that while many Internet stocks carry market values which investors view as too high, the services and information the good ones provide may make them well worth those lofty valuations. ''As we look forward, it's still possible that some of those stock will appear cheap five years from now,'' he said. ''These stocks are worth different things at different times to different investors.''
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