Two leading seers of the Internet predict the best investment opportunities for the next decade in FutureWealth
. Francis McInerney and Sean White believe the plummeting cost of information is revolutionizing the world's economy and creating fantastic potential for wealth creation. "Throughout history, wealth has been generated by one fundamental force: the falling cost of information," write McInerney and White, advisers in the telecommunications industry for financial institutions and other investors. "Those who have known how to harness it have made fortunes. Those who have not have been destroyed."
McInerney and White point out that consumers are getting more and more clout in the marketplace because of the collapsing price of computers and other technologies. In an era that will be dominated by consumers, companies must be deft at using the Internet to cut distribution time and reach customers directly. The best-positioned companies are Cisco Systems, Dell Computer, Charles Schwab, and Wal-Mart. All enjoy great cash flow, tremendous market share, rapid growth, and strong brands that will thrive in the global economy. The authors also like Amazon.com, Sprint, and Sony. On the other hand, they see uncertain futures for giants such as AT&T, Intel, and Yahoo! While Yahoo! boasts a global brand, for example, it is also dangerously reliant on advertising, an unproven revenue source on the Internet.
A quick read backed by impressive research, FutureWealth is a fascinating account for investors or anyone interested in some of the trends and top companies that are driving the Internet economy. --Dan Ring
"Authors McInerney and White cleave through incredible confusion and uncertainty to provide both insight and foresight. FutureWealth is provocative and arresting in its clarity. In an environment where few old rules still apply, they have developed an invaluable road map for both business executives and investors alike. For anyone involved with the communications/high tech sector, this is a must-read."--Van Cullens, President, Harris Corporation
"McInerney and White have given us a clear perspective on how and why we are where we are, but, more important, on where we are going in all major industries. If you have wealth and would like to keep it in the twenty-first century, FutureWealth is a must-read. And if you are just starting to accumulate wealth, you'd better read it quickly."--James Bowe, CEO, The New York Board of Trade
"In FutureWealth, McInerney and White present a compelling conceptual framework that illuminates the momentous changes in our era. As computer networking, telecommunications, and electronic media converge at the speed of light, the societies and economies of the world will transform in ways we can only imagine. This book is a must-read for those building tomorrow's businesses and institutions."--Steve Halsted, Chairman and CEO, The Centennial Funds