Meeker, Internet Analyst, Regrets Some Stock Picks, WSJ Says
New York, March 9 (Bloomberg) -- Mary Meeker, Internet
analyst at Morgan Stanley Dean Witter & Co. named ``Queen of the
Net'' by Barron's magazine in 1998, said she regrets recommending
some of the Internet stocks the firm brought to market, the Wall
Street Journal said, citing an interview with her.
Meeker said Ask Jeeves Inc., drugstore.com Inc.,
Priceline.com Inc., Women.com Networks Inc. and HomeGrocer.com as
being ``especially disappointing'' stocks which Morgan Stanley led
in initial public offerings, the Journal said.
``I had a bad year. I would hate to be judged on one bad
year,'' she told the Journal. She acknowledged that she ``stayed
too long on some stocks.''
Meeker was one of highest-profile advocates of the new
economy on Wall Street, appearing on the cover of Fortune magazine
as the third most powerful woman in business in 1999. Her
influence as an Internet analyst owed much to Morgan Stanley's
position as a top underwriter of Internet initial public
offerings. Since the collapse of the Internet market, her star has
waned, the Journal said.
She told the paper the value in her picks wiped out in the dot-com price crash was outweighed by the appreciation in stocks
she's been recommending for over ten years, including Microsoft
Corp., America Online, Compaq Computer Corp. and Dell Computer
Corp.
(Wall Street Journal, 3/9 p.9)
For the Wall Street Journal's Web site, see WWSJ <GO> .
--Sam Fleming in the London bureau (44) 207 673 2768, or
sfleming5@bloomberg.net /CP
What a moron and a moronic Firm |
