Word: teche
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JONATHAN MARGOLIS is a British journalist and author who has written bios on subjects from John Cleese to Uri Geller. One of his journalistic sidelines, however, is writing about gadgets and high tech. It was this technological bent, in fact, that led directly to his powerfully affecting story on how telemedicine played a key role in giving hope to a young Albanian man whose face had been shattered by a bullet in Kosovo. Digital cameras, laptops and Internet links transmitted the photos that touched the hearts of the team of volunteer doctors who offered the war victim not just...
...shift is clearest, though, in hard numbers. In January, investors poured a record $40 billion into stock funds, and $29 billion of it went into aggressive-growth and growth funds--the ones that own NASDAQ stocks. The rest went into sector funds, which are 75% invested in tech. Equity-income funds and growth and income funds (which favor blue chips) had outflows. Bond funds also had outflows--a hefty $10 billion worth...
Just saying yes has been a smart play. Up an unprecedented 86% last year, the index known for its high-tech and biotech wonders is up an additional 21% this year. It hit a new high Friday as the Dow struggled to stanch a 16% decline. The two market gauges have diverged dramatically all year, going in opposite directions on half of all trading days. Such an extreme divide has occurred only seven previous times in 30 years, according to Bianco Research, and in this case illustrates the extent to which investors are dumping old-economy stalwarts in favor...
...believe in technology. I believe in the Internet. It's insane not to have some of your money invested there. But no stock group is truly bulletproof. Since late '98, rising interest rates have toppled one after another--utilities, then banks, then industrials. Now some established tech leaders like Microsoft and Lucent are under pressure. Next and last on the ladder of interest-rate vulnerability are the new-economy darlings. Can they stand firm? Given the money flowing their way, maybe...
Kenny's firm, which he co-founded with Jonathan Cheng, is known as an incubator and is critical to the development of Internet businesses. Think of such companies as corporate foster parents whose experts nurture Netrepreneurs so they can make it on their own. Strong on tech but sloppy on marketing? Probe the incubator's contact book. Big on vision but clueless on execution? An incubator can find just the right manager...