Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (38458)	6/11/1999 2:42:00 AM
From: Dale Baker	Read Replies (2) of 122087

Some thoughts on Internet stocks from a raging moderate... --Why are they always discussed in a zero-sum way? Own them all or don't own any? I keep my portfolio limited to no more than 25% in one sector, and Internets represent one of those sectors. --Internet stocks get dumped on like this about twice a year then they come back. Writing them off forever is like the endless predictions I have read on SI since 1997 that the bull market is ending...and ending...and ending...and has to end soon....and can't last....and so on. --Taking profits on peaks is essential. I checked my records and found that my CMGI profits (cashed in, not on paper) are three times the $$ value of my current CMGI holdings. If CMGI is cut in half tomorrow my overall portfolio will go down all of 2 per cent. Big deal. --Sometime in the next 12 months I expect to cash in part of my CMGI holdings again for double or triple what I paid. In effect I will be cashing in the shares I gained from splits and keeping a core position. --I saw a figure the other day that the current 70 million Internet users will grow to 400 million by 2002. That means the Internet could see five times the growth it has seen so far. This holiday season should see another explosion of E-commerce along with broadband audio and video applications penetrating the market. Those are just a few reasons to stay long Internet stocks in reasonable amounts. FWIW, I hold about 8 or 9 different Internets since it is almost impossible to predict which will be five-baggers and which will flame out. And I don't use margin or go into a panic when Internet stocks get cut in half. That's just the way they trade. Finally, it will be many years before shorts being to make as much money on Internets as longs have. So far, the shorts have contributed mightily to long profits through squeezes.

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