Silicon Valley brothers burst the Internet bubble. At least 133 stocks are overvalued.
Anthony and Michael Perkins have been to the Promised Land of Internet company investments. Now they're back.
Their book, "The Internet Bubble: Inside the Overvalued World of High-Tech Stocks - and What You Need to Know to Avoid the Coming Shakeout," first came out in November 1999.
"Our advice to investors is simple," the authors say. If you own stock in any of the 133 overvalued companies in their Internet Bubble Portfolio (see www.redherring.com/internetbubble), now is the time to sell.
"If the Internet gala hasn't ended by the time this book hits the streets, it will probably end sometime soon thereafter," the authors write. Good advice. The bubble is still deflating, and the book still makes good reading from a historical perspective.
The Perkins brothers launched Red Herring magazine in 1992. Most of the 250 pages in the book are dedicated to providing historical perspective - insider anecdotes about dueling venture capitalists competing for questionable technology holdings and overzealous investment bankers champing at the bit to take these firms public.
"The Internet Bubble" is published by HarperBusiness (ISBN 0066640008). It costs $27 and is available everywhere.