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Internet Fund Managers Once Again Smiling.(INTERNET & TECHNOLOGY)
Byline: PAUL KATZEFF
Internet stocks are shooting the lights out.
But not all investors are betting based on earnings growth. Many are putting their money into stocks based more on low valuations.
"We haven't seen widespread earnings to back up share price gains," said Ryan Jacob, manager of the $106 million Jacob Internet Fund. "But since stock prices forecast future gains, the implication is that many Internet investors believe we're in a recovery. Earnings in the next 12 months could be strong."
The five Internet subindustry groups tracked by IBD, among a total of 197 groups, have ranked among the top 32 over the past four weeks, and three have been among the top 15 for the last 26 weeks. The industry group rankings are based on six-month price performance for all stocks.
S&P Sees Earnings
The Internet groups also posted strong profit growth. Earnings might not be widespread among Internet companies, but they do exist, says Lawrence York, manager of the $13 million WWW Internet Fund. It was the first publicly traded Internet sector fund.
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...Unified's Select Internet Fund is the only entrant...Orben's-30 plus years of money management...Unified Select Internet Fund represents a value...million users by the year 2000, up from...Unified Select Internet Fund invests in companies...
- Morningstar Awards Four Star Rating to WWW Internet Fund.
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