No. of Recommendations: 1
Those of you who have been following our tales on the unbelievable are well aware of the "NetJ.com" phenomena. For the newer readers, this is a NASDAQ listed company whose share price rose from U$1.00 on December 31 to U$8.00 by mid March. At its peak, this company had a market capitalisation of U$85 million. The truly amazing thing about this company was that it had no earnings, no sales, no assets, no staff, not even a business plan. This company was a listed shelf company whose share price rose solely on the hype surrounding its name "do nothing - dot - com".

When we first highlighted the NetJ story, the share price was $4.00 a share. Some of you will recall that although we lampooned the extraordinary rise from 1 to U$4.00, we finished off by asking if anyone were game enough to short sell the stock. Not too surprising, there wasn't a taker. As were with our own thoughts on this subject, the momentum behind the dot com bubble was too strong to lampoon in actual portfolio construction. Furthermore, we remain strong advocates of the benefits and upcoming changes behind the technology revolution. Our concern then, as is now, is that any investment should be focused on its ability to generate income and return based on fundamentals, not on concept nor hype. The NetJ.com only exemplified the latter.

Following the profit taking in tech stock this April, some common sense has come back into the market. Still believing in the dot com and tech revolution, investors are now beginning to ask sensible questions. "What is your business plan? Do you have enough funds to grow the business? What are your capital expenditure plans looking forward?" This is a huge step from where we were before. "Which button do I press to buy the share?"

Equally important, household investors are now using the internet itself to pass on their research to others. Examples of such sites include www.fool.com, and eventually, our own vaneyk.com. (For your information, the Australian launch date for our site is Bastille day, July 14th. I guess you could say we hope to liberate investors from the chains of ignorance...gimmicky I know, but you get my gist). These sites rely on both information and investment education. The impact is already being felt. In our research of such sites, we came across one which our sensors prohibit me from mentioning. I dare not mention the name not in fear of some lawsuit, but out of respect for all those who don't share my gutter mouth.

This site, URL link http://216.150.27.141/ , is a sort of hall of fame for the NetJ story. We've all seen those jokes spreading through our emails about the "World's dumbest person" or seen those mindless TV shows on the "World's worst commercials". Well this site has a similar genre. It is a site where regular people play a game to see which company will go under next. It's a game based on the classic deadpool, but instead of betting for (or against) other people, you're betting on which company will die a horrible death. This site is truly worth a look at. Be warned, however, the name may offend (or if you're like me, make you laugh uncontrollably). Ahh, the wonders of the internet.
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