Ryan's Hope

The Former Manager of the White-Hot Internet Fund Makes You a Millionaire and Heads to the Gym

What Internet stocks look like good buys right now?

A lot of the media companies, primarily because, believe it or not, it's still controversial whether or not these are viable long-term. We like controversy. Controversy gives us better prices to buy at.

Can you name some of these?

We were very positive, in the financial area, on Marketwatch.com and TheStreet.com. [Also] companies that are offering different takes on portal services, like GoTo.com and About.com.

So what does a young fund manager do in the city for fun?

[Laughter]. You know, I'll tell you, it's funny, when I first came up to the city, which was for the Bankers Trust company in '92...I think when you first come into the city, for the first few years, you hit the circuit pretty hard, and that's pretty much what I did. Then, I think, probably less and less so. Whether you're involved in a relationship, or what have you, you have less time for that, and given how much work I've been doing...I do go out occasionally, but not nearly as much as I used to.

Any favorite restaurants?

I've been to a lot. I will admit, I don't cook. I can't even remember the last time I actually cooked something for myself. So I do eat out a lot, but I'm not going to Tribeca Grill every night, or Le Cirque.

Take-out Chinese?

Depends. I have weird eating habits. I do try to get to the gym every day and I drink Met-Rx, which is a meal replacement.

Like the athletes drink?

Well, I do it more as a habit. I can just drink it and go on with my day. I usually eat it between breakfast and lunch. So I kind of snack; I don't really eat a lot of meals. It's partly because of my schedule. I eat when I have a chance.

What gym do you go to?

I go to Bally's over here on 50th and Eighth Avenue. It's funny, every once in a while, someone will come up to me.

An investor?

Yeah, every once in a while, believe it or not.

Tell me about the last time you met an investor at Bally's.

The last time? Getting changed in the men's locker room, and somebody comes up to me and says "Hey, are you Ryan Jacob?" I say, "Yeah," and he says, "Oh, you know, I'm an investor in your fund. How are things going? I understand you just left."

I said, "Yeah," and he said, "I sold my shares when I heard. What do you think of the new guys?" I said, "Well, it's out of my control." And he said, "Oh, well, I'm going to keep a look out for your new fund," and, "Thanks so much," and, "I've been an investor for a year." As soon as they say that, I know they've had a good experience. I know he's made a lot of money and he's happy.

When does your new fund launch?

Shortly after Labor Day.

Net stocks have been getting shelled lately. Will September be a good time to buy an Internet fund?

Yeah...of course! Really, I can't tell you about next week, let alone next month. But there are a lot of very cheap stocks out there. Not the leaders, but some of those second-tier companies getting chucked. Plenty of opportunity. Danny Hakim is a staff editor at SmartMoney.com. He can be reached at dhakim@smartmoney.com.

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