Tagliaferro on tech stocks

Tagliaferro on tech stocks. In the dot com boom period all the new economy companies that were making no money were rising exponentially while many of the long-established quality companies that we favoured - such as Woolworths, AGL and Brambles were being sold down, despite posting record profits and dividends! We kept buying all our favoured old-economy stocks as they got cheaper and better value every day but our performance looked absolutely terrible and kept getting worse as the boom reached new extremes. I was very worried and feared that IML would go out of business if the tech-boom madness went on. The tech boom ended with a bang in September of 2000 - and all the new-economy stocks crashed while all the stalwarts such as Woolworths, Brambles, TAB came roaring back into favour. We went from about $250 million under management to over $5bn in four years. (VIEW LINK)

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