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|User Info||11 Reasons to Buy Now; entered at 2007-12-02 10:13:50|
Registered: 2007-07-09 Seattle
Luskin's model explained in the Wikipedia.|
MetaMarkets.com, the venture-backed company that Luskin and Nadig founded to operate OpenFund, was hailed by Fortune magazine as one of the "coolest companies" in America in 2000. Their model was dismissed by some analysts as being a "gimmick," having nothing to do with investing per se: "They brought chat boards to life in a mutual fund." At its peak, OpenFund received $45 million in investments, and the fund's biggest positions included companies like JDS Uniphase and Extreme Networks. After the market top in March 2000, the valuations of technology companies collapsed and many OpenFund investors redeemed their shares, reducing the fund's value by 75%. The fund was shut down in the summer of 2001.