Not for Warren Buffett
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Web data management software toolmaker Sagent Technology went public today, offering five million shares at $9 each.
Warren Buffett probably didn't even notice.
The billionaire investor, according to a Reuters story, reiterated his skepticism Wednesday about Internet and high-technology stocks.
"I simply can't look at high-tech companies, Internet companies, and say with a high degree of assurance where those companies will be in 10 years," Buffett said at a Paris news briefing.
Maybe when you're one of the two or three richest people on the planet you can afford to invest conservatively. However, thousands of other smaller investors see Internet stocks as an opportunity to improve their net worth and participate in a game that previously had been closed to all but the wealthy and Wall Street insiders.
And while Buffett quite naturally wants to be confident about the long-term prospects of a company before he invests, a decade is a long time out for brokers and day traders who ride the stock charts every day.
After all, a lot of people made small fortunes buying and selling stock in Netscape, a company that didn't even come close to lasting 10 years. Some of them, of course, were just lucky. Others, though, recognized Netscape's unique position in the browser market in the mid-'90s, before Microsoft woke up and put an abrupt and inevitable end to that.
Others, unfortunately, hung on too long, or bought Netscape shares in the $70s, only to see them fall to half that amount by the time AOL bought the company out.
The folks in the latter category failed to see the handwriting on the Big Board, either because they were in denial or simply weren't paying attention to what the market was telling them.
That's why services like internet.com's Internet Stock Report exist. Our goal is to keep 'Net investors fully informed through:
- four daily reports that provide news and analysis regarding Internet stocks, IPOs and market activities
- special features such as the Internet Stock List, IPO Watch, IPODEX and, of course, the groundbreaking ISDEX
- newsletters such as the free Internet Stock Report and Hotwatch, a monthly paid subscription e-mail newsletter highlighting the 10 hottest Internet stocks to watch as chosen by internet.com's Senior Investment Analyst Steve Harmon
Next week we will introduce an exciting new weekly paid subscription newsletter that promises to give Internet investors an even better grasp of market trends and opportunities.
The e-mail newsletter, Internet StockTracker, provides the latest performance data on individual Internet companies and specific Internet sectors. Each Friday subscribers will be e-mailed a breakdown of how each Internet company's stock has performed in the past week, as well as a brief analysis of the reasons behind the most noteworthy movers in each sector.
Subscribers will be able to see which were the top 10 gainers and losers, and how each sector did collectively. For example, if you had received Internet StockTracker #2 last Friday, you would have seen in black and white the disastrous week security companies had following concerns about soft Q1 revenues due to Y2K concerns.
Among the sectors broken out are: Portals; Content/Community; Etailers; E-commerce Enablers; Security; Performance Software; Internet Services; Speed/Bandwidth; and ISPs/Access Providers.
As new Internet companies go public, such as Sagent, they will be added to StockTracker.
The number of Internet companies selling stock promises to double this year alone. Internet StockTracker will help investors quickly size up what's happening in the market each week, so they can adjust their portfolios as needed to capitalize on news, trends and events.
I bet even Warren Buffett would like it.