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Tread carefully. On the other hand, I was logically very nervous about Amazon, Ebay and Yahoo, to the point of never owning any. The Internet shares as a group will burst, but, as in Biotech, some winners will remain to thrive. These companies got to run fast to (1) use their stock as currency to buy into "real" companies that in turn make the internet companies more defensible, (2) fight off other internet companies, (3) watch their technological flanks to pre-empt being blindsided by newer still business and/or technology models. I like shares as they give me an incentive to read the newspaper and follow the technology. But, tread carefully and diversify across industry, geography and time and only buy the biggest and the best, even if we have to pay a bit more. |
