Ryan Jacob
Ryan Jacob
catch changed everybody evolution internet quite seen speed surprised
I think everybody has been surprised at the speed of evolution we've seen in the sector. Usually new technologies take quite a while to catch on. The Internet has really changed the rules.
forward frankly fund hold internet mean names quite terrific tremendous
I think we've had a tremendous run. I mean Nasdaq had a terrific year. A lot of the Internet names that we hold in the fund had terrific years and quite frankly I think going forward it's going to be more challenging.
broader companies focus internet tech
Really, the Internet is broader than one sector. We're going to focus on companies that focus the least on technology. Tech companies just are not attractive. They are too competitive, and they have predatory pricing.
area companies general higher low operating
Valuations in general for e-commerce companies have been historically higher than we've been comfortable with and they have low operating margins. So it's an area we've shied away from.
base considered ebay growing momentum phenomenal rate relatively revenue though traffic
Well, eBay is growing at a phenomenal rate right now. This is a company, even though they are considered one of the bellwethers now because of their size, the revenue base is still relatively small, and they have a lot of momentum in their traffic and transactions.
affect although changes companies dominating focused fourth holiday iraq news period quarter situation strong
Unfortunately, we still have Iraq dominating the news and any changes in the situation there will have a big affect -- although I think we are in a period now that's seasonally strong for the market, especially in technology. So, I think everyone's going to be very focused on how companies are doing in this fourth quarter and then, obviously, the holiday season.
companies focusing players
We're focusing on companies that will be long-term players on the Internet.
internet nobody three took
Three years ago, nobody took the Internet seriously. We're in it for the long term.
bit companies company excited higher investors might normal pay road
When companies first come public, there's a lot of hype, anticipation. The company is out hyping the IPO on a road show and investors get very excited and they might pay a bit higher than they may in normal situations.
earnings glass investors looking rather reports
Right now investors are looking at any earnings reports as the glass half-empty rather than half-full.
clear companies leader online potential sell space
Software.net has the potential of being a leader in this space and there are clear comparisons to Egghead.com, and also to some of the online companies that sell CDs. They're really not that much different.
changed craziness internet wild
Something has changed (with Internet investing). You don't have the craziness of a wild IPO market.
activity gain leaders leaders-and-leadership
In 1999, we'll see more consolidation activity as leaders gain more scale.
bounce clear fourth last post quarter year
It's pretty clear the fourth quarter of last year was pretty horrific, and we didn't need much of a bounce to post these kind of returns.