Eric - You must have a much narrower definition of Internet stock than I, and if you're talking about the stock market being down, EVERYTHING is down today, not just the Internet stocks.
Almost all of my Internet stocks are making money, and their earnings are increasing fast: CHKP, ORCL, YHOO, JDSU, QCOM, JNPR, BRCM, MSFT, INTC, ITWO, etc.
If anyone following an Internet strategy didn't know about risk before (most did), they do now, so you can stop talking about that one.
Earlier this year I diversified some: JNJ, SBC, etc. The results were unimpressive and I decided it was a waste of time for me.
Most of the criticism of technology investing 6 months ago was about the limited short term horizon such people had. Now you're complaining that we have focused on the long term to the detriment of the short term. I guess we can't do anything right!
The Internet build out continues apace. I hate this drop in the market. But as Warren Buffet knows, timing markets is a folly. So, I'll stay with my wonderful businesses, thank you.
Regards,
Tom |
