Interesting question about Allen.
I recall that Allen was an early('95-'96?), big investor in AOL, and then a year or two later -- just before the huge run of the past few years -- he bailed out.
I know he throws a lot of money around buying into this and that......Any notable investment success stories about him that someone could share?
I'm just long again (at 17)in RCNC, after getting out a while back(just after the C-TEC spin off -- it just seemed like such an early juncture to be in this start-up enterprise)
I mainly like this story because of the Kiewit heritage. Those guys have always proven to be good guys to coattail(MFS, C-TEC, CE(which Warren Buffett recently bought), and LVLT); they are very hardworking, frugal and trustworthy (Walter Scott, the former head of Kiewit, is an old schoolmate and friend of Buffett and cut from the same cloth).
Richard Jaros, one of their group and a director of RCN, was buying RCN stock in the mid-20's a couple of months ago. That, to me, is a great endorsement. To buy RCN at prices almost 30% less than him seemed too good an opportunity to pass up.
Remember: You have one main advantage as a small investor over the big, institutional guys -- the luxury of being able to be patient. I plan to use it. |
