The Top 10 Internet Myths

Editor's note: James J. Cramer gave a speech at the Goldman Sachs International Tech conference in London today. We're running the full text of that address here.

Investment in the Internet has become a joke. There, phew, I said it. I, having made millions of dollars investing in the Net and having spent millions of dollars building a site, am out of the closet -- free at last -- to speak the truth about what really goes on behind the URL.

Tell us what you think on our message boards.

Yes, you lucky listeners, I am about to give you the confession of a lifetime, what nobody wants said -- not the analysts, not the bankers, not the venture capitalists and certainly not the fellow entrepreneurs. The Net is the most overhyped investment story in history. It is so hyped that it is hurting those of us who have developed legitimate businesses that would do quite well even if there were no Web and would definitely perform much better now that there is!! ...