Playing the Tech Game

Know when to buy, sell, hold or fold new-economy stocks

it’s usually setting itself up for good long-term growth.

NOW: Internet companies may be using every penny to grow and keep up with the changes in the market. If the potential for growth is there, cash flow is less important. Compare it to a young family starting out (the real key is how it invests in itself). Their cash may be going toward a mortgage, college savings and job training. Thus, short-term disposable income may be tight, but the long-term payoff significant.

THEN: As famous mutual-fund manager, Mario Gabelli, looks at buying a company, not a piece of paper. In other words, management always counts. That’s why basketball coaches get paid so much. ‘Nuff said?

NOW: Some things never change.

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