After the dotcom bust, Dan Chung, chief investment officer for Alger, a tech-focused fund manager based in New York, was desperate for hot stocks to fire up his portfolios. In 2003, he spotted a small-cap stock that had dropped 65 per cent in the five months after going public. Mr Chung snapped up stock in the company, Netflix, for $1.20 and within a year the price had climbed fivefold. Read More...
After the dotcom bust, Dan Chung, chief investment officer for Alger, a tech-focused fund manager based in New York, was desperate for hot stocks to fire up his portfolios. In 2003, he spotted a small-cap stock that had dropped 65 per cent in the five months after going public. Mr Chung snapped up stock in the company, Netflix, for $1.20 and within a year the price had climbed fivefold.
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