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Technology Stocks : Internet Capital Group Inc. (ICGE)
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From: tktrimbath7/1/2008 12:51:59 AM
   of 4187
 
mid-year review of ICGE

INTRO Here's my semi-annual exercise to see if I remember why I own the stocks I own, and so I can check back and see if their stories have changed. I post in case it helps others too.

(market cap $0.30B)

Internet Capital Group is an incubator of business-to-business internet companies. I think their model is more like Berkshire Hathaway than GE. Their story has not changed over the last few years. That's good and bad. They have generated some companies, but none of them have been successful enough to dramatically improve ICG's finances or ICGE's price. The fundamental concept is fine. Their finances are sufficiently stable that they may yet succeed. Management proved that they could navigate a tough financial situation over the last few years, but now they must prove that they can return to the company's primary mission of growing through their subordinate companies. Maybe they are good money managers but uninspiring leaders of innovation. Unfortunately, I can't evaluate that.

If it is not apparent, I am less enthusiastic about ICGs' prospects than I have been. Proving that they could manage their way through financial strife is impressive, but they seem to be failing at their core mission. With the financial strife behind them and their core mission ahead of them, that suggests that they may not have what they need for a future worth investing my money in. Maybe it will work. I am going to research their current situation to decide whether I should continue to hold, or to see if I should finally sell my remaining holdings.

DISCLAIMER LTBH since late 2000.
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