Tech Geeks and Dotcom Investing: Marriage or Divorce?
A recent survey conducted for US Trust of the richest technology professionals confirmed that wealthy Americans working in technology maintain their opinion that dotcom stocks are still a viable investment.
The survey was conducted in the Spring when most of the technology stocks fell dramatically. Among those surveyed, participants reported that their own portfolios consisted of 40 percent in technology stocks.
While almost 30 percent of portfolios consisted of the participants' own company stocks, reports indicate that more caution plays in owning your own stocks: 42 per cent said that too much of their net worth was invested internally.
As a side note, the typical affluent technology professional identified in the survey were mostly between the ages of 41 and 65, and have worked in the industry 27 years. They report that it took an average of 22 years to attain their current net worth.
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Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.