It's pretty clear the fourth quarter of last year was pretty horrific, and we didn't need much of a bounce to post these kind of returns.
More Quotes from Ryan Jacob:
When companies first come public, there's a lot of hype, anticipation. The company is out hyping the IPO on a road show and investors get very excited and they might pay a bit higher than they may in normal situations.Ryan Jacob
Something has changed (with Internet investing). You don't have the craziness of a wild IPO market.
Ryan Jacob
Everyone's expecting, and should expect, that these companies will continue to post very impressive gains. A lot of these companies are still growing 30-50 percent per quarter. There will be other issues that people will be looking at. With Yahoo, it may not be just revenues, it may be page views. With an Amazon, it may not just be revenues, it may be number of new customers they've acquired over the last quarter.
Ryan Jacob
We're focusing on companies that will be long-term players on the Internet.
Ryan Jacob
For many of the Internet leaders, you're paying a high valuation with only modestly higher growth prospects.
Ryan Jacob
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