Internet Fund cools off
From The Wall Street Journal
Good news for Ryan Jacob's new fund or just a sign of the times? Time will tell, but Jacob seems to have left the once-sizzling Internet Fund just in time. His former fund's return has declined by 8.1% since June 30, dead last out of 92 tech funds ranked by Morningstar, while the average technology fund is up 14.9% in the same period. Peter Doyle, chairman of Kinetics Asset Management, the fund's advisor, has pared down the holdings in the portfolio and attempted to restructure in favor of larger, less aggressive Internet plays with disappointing results so far. Jacob reports that his new fund will continue to live on the edge with smaller, more aggressive stocks.
See-through fund looking good at starting gate
From The Boston Herald
Beth Healey profiles the new MetaMarkets.com's OpenFund, the online fund that reveals its every move, including a webcam detailing every twitch in the trading room. The fund is up 6.4% since its inception on Sept. 1, soundly trouncing the S&P's loss of 1.64% in the same period, admittedly a very short period.
To MonkeyDex or not to MonkeyDex?
From CBS MarketWatch
Paul Farrell delves into the ever-growing body of Internet indexes, concluding that some of them do "measure something meaningful,"
but also noting that a dart-throwing chimpanzee, compiling the Internet Stock Review's MonkeyDex, is up 124% YTD.
Stay ahead of the news ... Sign up for our email alerts now