Thom Calandra, CBS.MW on Wall Street pros [at Comdex] hot on tech
LAS VEGAS (CBS.MW) --"... Mostly, they were like kids in a technology candy store, and deservedly so.
Andrew Neff, a senior managing director at Bear Stearns and a perennial all-star analyst; Robertson Stephens fund manager Ronald Elijah, who runs the Information Age Fund (RSIFX) and the Robertson Stephens Value-Plus-Growth Fund (RSVPX); Integral Capital Partners' Roger McNamee; and Forbes publisher Richard Karlgaard came to the Comdex trade show to talk stocks.
Their crystal balls were full of candy for technology investors. If this sounds too good to be true, well, you just had to be there...How about Internet mania, which is sending fledgling companies' shares to skyscraper heights? "Increasingly, it is individual investors who dominate trading in technology stocks," said venture capitalist McNamee...McNamee said Internet traders "live the Internet 24 by 7" and have a "very different perception of risk than professional investors."...The crowd came to hear these Wall Street professionals tick off reasons that we all should keep buying high-flying semiconductor, software, hardware and telecommunications stocks. And reasons the crowd got. (All of the experts' forecasts came Tuesday before the Federal Reserve's policy-makers reduced U.S. interest rates.)...The future's winning Internet franchises, he said, "haven't even been conceived..." source: © 4:45 PM ET Nov 17, 1998 NewsWatch CBS.MW cbs.marketwatch.com |
