March 15, 2006
Internet and Railroads - lot's in common
Best performing index today was railroads - up approximately 5 percent. Imagine Google, Yahoo and Ebay 80 years from now jumping 5 percent in one day.
It is a simplistic view, but information delivery over broadband has a lot less moving parts than railroads.
Don't think too much. If you want, buy HHH which is an internet ETF. Internet connects people. MySpace at $600 million last year -probably three nude programmers in a room. That's a lot easier way to run a $600 million business than a railroad. What do you think the leading social network will be worth in 80 years?