Ryan Jacob
Ryan Jacob
biggest change companies five late obviously past reasonably starting
The biggest change in the past five years is that you can find very reasonably priced companies and most are making money. That's obviously a big change from the late 90's when these companies were just starting out.
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.
internet nobody three took
Three years ago, nobody took the Internet seriously. We're in it for the long term.
companies focusing players
We're focusing on companies that will be long-term players on the Internet.