Further Reading
Click on the book covers below to read about these excellent texts on investing and financial manias.
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FOR IMMEDIATE RELEASE
Contact: Michele Jacob
Senior Publicist
(212) 207-7030
michele.jacob@harpercollins.comWill Internet Mania Destroy the Small Investor?
The founders of Silicon ValleyÌs Red Herring deliver a dire warning thatÌs bound to burst your bubble.
This book is a bold attempt to speak painful truths. Few others have either the ability or the nerve. I found the book riveting.
David Kirkpatrick, Editor, Fortune MagazineA great insiderÌs view.
Steve Worthington, Portfolio Manager, Barbary Coast Capital ManagementInsiders who miss this book will become extinct. Read it!
Tim Draper, Founder and Managing Director, Draper Fisher JurvetsonInternet stocks are grossly overvalued, and the retail investors who donÌt get out now are going to get burned. So say Anthony B. Perkins and Michael C. Perkins, authors of THE INTERNET BUBBLE: Inside the Overvalued World of High-Tech Stocks And What You Need to Know to Avoid the Coming Shakeout (HarperBusiness $27.00). According to the authors itÌs time to take action, time to discern whatÌs real and whatÌs fluff in the stock market.
The Internet boom has created billions in newÛlargely paperÛwealth for thousands of entrepreneurs and investors, so why would anybody want to stop the party now? The problem is that the mania for technology stocks has produced a dangerous and unstable overvaluation, or Ïbubble,Ó claim Perkins and Perkins, founders of Red Herring, one of the foremost magazines of the technology industry. These two high-tech experts argue that this Internet bubble, like other stock manias before it, must inevitably collapse, crushing the small investor in the process. This means that to protect themselves small investors must act quickly.
THE INTERNET BUBBLE:
ÔShows how and why some of the best known Internet stocks have been greatly overvalued. To justify their market valuations, these stocks would have to grow their revenues, on average, by over 80 percent every year for the next five years. In other words, they would have to grow twice as fast as Microsoft, every year.
ÔExposes the role that venture capital firms, like Kleiner Perkins Caufield & Byers, as well as the investment bankers, have played in creating the Internet bubble.
ÔDebunks the new economy myth of the Ïlong boom,Ó a fallacy that is often used to justify overvalued technology stocks.
ÔShows why buying IPOs is a losing game for most individual investors. While insiders cash in big, the little guy loses almost every time.
ÔExplains how the Internet industry is due for the same Darwinian shakeout experienced in every mania from tulip bulbs to the personal computer business.
ÔLevels the playing field by showing investors how to pick their way through the Internet minefield and still find appropriate investments.
In the final analysis, argue the authors, investors cannot allow themselves to be seduced by revolutionary new technologies and Web services that lack solid business models and profit margins. As THE INTERNET BUBBLE reveals, many financial and industry insiders agree that because of these drawbacks Internet stocks are due for a big shakeout. As Bill Gates told the authors, ÏInvestors should not invest in Internet stocks unless they are prepared to take massive risks.Ó
THE INTERNET BUBBLE uncovers how the big investors think and operate. And it gives small investors a tool theyÌve never had before, enabling them to save their assets.
More Advance Praise for THE INTERNET BUBBLE:
"Tony and Michael Perkins were tracking high-tech IPO's before they became a national phenomenon, and their book exposes the stories surrounding the incredible rise and fall of the Silicon Valley high-tech wealth machine."
Mark Berniker,
Senior Producer, CNNfn's Digital Jam"Tony and Michael Perkins bring a keen insiders' eye to the inner workings of the most important players in this new economy."
Sandy Climan, Managing Director, Entertainment Media Ventures LLC, former Principal, Creative Artists AgencyABOUT THE AUTHORS:
Anthony B. Perkins is the co-founder, chairman and Editor-in-Chief of Red Herring Magazine and Red Herring Online. He appears regularly on CNNfnÌs Digital Jam, ZDTV, and European Business News, and is a frequent speaker at industry conferences worldwide.
Michael C. Perkins is a founding editor of Red Herring Magazine and author of The Red Herring Guide to the Digital Universe. He has worked as a consultant and has served as a speaker and moderator for several prestigious business forums.
ABOUT THE BOOK:
TITLE: THE INTERNET BUBBLE
SUBTITLE: Inside the Overvalued World of High-Tech Stocks And What You Need to Know to Avoid the Coming Shakeout
AUTHORS: Anthony B. Perkins and Michael C. Perkins
ISBN#: 0-06-664000-8
PRICE: $27.00# # #