The Internet Fund: WWWFX - Fund for the 21st Century? Message Board

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Strategies & Market Trends : The Internet Fund: WWWFX - Fund for the 21st Century?

WWWFX 68.29

-1.5%

Nov 18 4:00 PM EST

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To: DAPerez who wrote ()	1/18/1999 8:04:00 AM
From: astyanax	Read Replies (1) of 213

I posted this to the SI BFLY board but pasting it here too (sorry about the formatting) because of its relevance to WWWFX: I just updated my Internet Fund Fan Club (WWWFX) site with my analysis on why BFLY has risen sharply that last couple of days. But this is only based on what I know so far (particularly my hypothesis on call options - I don't trade on margin so I'm no expert on this). Anyway, here's the excerpt: Is the market now trading its Net picks based on Ryan Jacob's (WWWFX portfolio manager) decisions? A diversified (30 stocks) portfolio returning 323% in a one year period (at one high point in January) does get the attention of market watchers. The Internet Fund recently announced on their webpage that Bluefly (BFLY) was the latest addition to their portfolio. It appears that the webpage was updated with this info sometime around the night of 1/13 or morning of 1/14. Earlier (between 1/11 and 1/13) the price for BFLY was relatively stable. Things began to change on the 14th, when BFLY gained 18.59%. What makes this sharp gain even more surprising is the fact that the Net sector as a whole was battered that day. And on January 15th, BFLY gained another 16.76%. Out of WWWFX's top 25 stocks, this was the best gainer for the day, by more than double the gain of the #2 performer (Verisign, at +7.75%.) on trading volume 51% higher than normal. During this week, there appears to have been no breaking news from the company or any change in fundamentals. In all probability, any addition to the WWWFX portfolio is closely followed by other Net stock traders and perhaps margin traders buying call options ("buying long") in anticipation of this. Whenever stock analysts at major brokerages upgrade a stock recommendation, the stock price tends to react favorably. Yet most of these analysts do not cover young Net companies. No major stock analysts have initiated coverage on Bluefly. So Jacob's endorsement may be the closest thing the market has to an analyst's recommendation in the case of nascent Net stocks like Bluefly. --- The Internet Fund Investors Forum www.netconductor.com/internet George Nichols tulipmaniac@netconductor.com

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