But Still Ahead Investors in Internet stocks this year have been running with the bulls. The drop from the top prompted scores of experts to appear on CNBC, Bloomberg, etc. I strongly believe sometimes the TV folks blow up their inflatable analysts and pull the string every time Internet stocks fall.
Sound bytes are always the same with no real numbers or basis to support the opinions.
So I believe Internet stocks had some to give back after getting ahead of themselves. Add to that perhaps the real culprit in the pullback was a glut of new offerings spamming Wall Street. The fact that Buffett doesn't grasp the i-landscape is not news. What that indicates to me though is if Warren has no clue then what about the scores of investors trying to weed whack their way through the Internet IPO explosion this year. Both may taste about the same now.