Investors wary of Internet mutual funds
Despite some booming Internet share prices, investors are holding back, reports the New York Times today.
Zubin Jelveh notes:
It was a spectacular year for some of the largest Internet stocks. Google's share price doubled after its initial public offering and Yahoo and eBay staged yearlong rallies.
Despite these gains, many investors remain wary of mutual funds that focus on the sector - and for good reason, many analysts say.
The bottom line? Jelveh gives the final word to Phil Edwards, managing director of investment services at Standard & Poor's, who observes that mutual funds invested in Internet stocks "are not for the faint of heart," adding, "You've got to be willing to take a ride to the moon and back."
The Call of the Wild, Again, in Internet Funds by Zubin Jelveh, New York Times, 10 January 2005
What's the story? Doug Millison also edits OnlineJournalist.org, "on a need-to-know basis"