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Technology Stocks : Martha Stewart (MSO)
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To: Smart Investor who wrote (16)10/20/1999 8:59:00 PM
From: Tom D  Read Replies (1) of 37
 
I have made a lot of money buying Kleiner Perkins IPOs in the aftermarket on day 1.

KP seems to have mastered the concept of manifest destiny: If they annoint the company, it flourishes. I currently hold EPNY, CLIC, and MSO. I recall Jeff Bezos accepting funding from KPCB, rather than other VC firms who would have let him keep more of AMZN. Because he wanted the manifest destiny. I basically bought MSO because John Doerr was on their board.

I do not dispute that it appears overvalued by all metrics. AMZN has looked that way for a couple years, and I made a ton of money on it, selling it all in the last few months. But being overvalued does not stop it from becoming doubly or triply overvalued. Plus, this MSO actually makes profits.

At minimum, I would hold until day 25.

JMHO,
Tom D
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