George Mannes Chat on AOL

<I>TSC</I> Internet reporter George Mannes chats on AOL's MarketTalk.
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George Mannes chatted on AOL MarketTalk on Wednesday, Oct. 6. AOL's MarketTalk is hosted by Sage Online (Keyword: PF Live). As with all chats, this transcript is unedited.

Comment:

Live from New York, NY, please welcome George Mannes, Internet reporter at

TheStreet.com.

George Mannes:

Hello, everybody.

Question:

Care to make a guess on Yahoo!'s earnings?

George Mannes:

No. I'll just wait to see them along with everyone else.

Question:

What do you think of General Magic, GMGC? It sounds like the way of the future. Thank you.

George Mannes:

I'm not familiar with the company. I just remember them from when they first came out with a product a few years ago. It'll be interesting to see what the company's ultimate incarnation will be.

Question:

Comment on PFE.

George Mannes:

For biotech stocks, you want to be reading stories by my esteemed colleague, Jesse Eisinger. (That includes pharma co's, too.)

Question:

I'm thinking of buying some shares of the e-stamp IPO. Do you think it will do well?

George Mannes:

I can't give advice on individual stocks. I will say that the idea of getting postage online, it makes perfect sense. Someday I'll use the product for myself, if it's cheap enough.

Question:

How would a small growing company find investors?

George Mannes:

Make sure you know your business, your market, your competitors, your challenges. Then, start looking through press clips for companies that have invested in similar companies.

Question:

I have 90k to invest in equities. What are some names you would consider for core holdings?

George Mannes:

All I can say is from my experience as a writer about Internet stocks is that even Internet bulls, like Merrill Lynch's Henry Blodget, say to keep Net stocks to a small part of your portfolio -- as I recall (not 100% sure) he says about 5 to 10% and only that much if you're aware of the risks.

Question:

If I were to start a portfolio that I wanted to keep for five years, what stocks would you recommend putting in it?

George Mannes:

Once again, I can't give specific investment advice. I think with Internet companies, the issue is what stocks will be around in five years... That's the first question you have to answer before you can even get to the issue of what the best performers will be over five years.

George Mannes:

Again, bulls like Blodget have talked about how there will be plenty of consolidation. And not all the companies will be taken out at a premium.

Question:

Thoughts on PCLN and CNXT please.

George Mannes:

I know people who have used priceline and are happy with it. I also think there's a growing amount of competition in the cheap tickets/travel arena. One great thing about priceline -- like many innovative Internet companies (though not necessarily successful ones) -- it's tough to "get" their business plan. It's not like anything you've ever seen before, and you have to be convinced.

Comment:

Thank you for joining us today, George!

George Mannes:

Thanks for your questions.