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-- -- -- Good deal of social media IPOs have been all the -- here would Groupon and Linkedin hitting the tape and talks a Twitter FaceBook baby next if you're looking at -- more social in your portfolio that you may want to look.
At the SO CEO this is the first social media ETF that launched today in a first on fox and everywhere joined by.
Bruno prop up.
He is CEO and portfolio manager of the global ex social media fund congratulations.
Thank him on the anniversary of -- the first a day of this saying how many stocks in the.
ETF 25 companies all over the world -- US internationally primarily a lot of companies in nation.
Now is some people said there too many companies -- why so many companies and Asia and China in particular.
How well when you look at the publicly available social media companies a lot of them -- US or not top publicly traded yet to obviously the face -- the saying -- -- Twitter so the world.
Some of them are available in in in Asia and China in particular.
Consulate is on balance is gonna be changing soon once we see FaceBook and others come on line we would certainly expects I mean obviously FaceBook and and and saying -- Twitter will get -- -- pretty significant violations that I would -- bring a lot of weight touching US hold.
It's valuation Hugh -- picked on the word some people say that the valuations of these things are not many things have changed since there.
The dotcom boom of the late ninety's it turned out to be so elusive.
Are you sure that the valuations these days are more sure than the valuations of the dot com -- Well those are conversations we're having with our clients solve an ongoing basis and clearly it's a very relevant question for these product because of the focus nature -- social media companies.
What we see here which is very distinct what was so alive at the end of the 199032000.
What is the difference the main difference well the main difference is these companies have revenues have very significant revenues very massive revenues and they have a very clear plan to profitability.
Now over 80% of the fortune 100 companies.
Basically advertise in social networks and DC's a gravity model -- has been proven.
-- very powerful -- -- -- similar numbers.
About a third off small cap companies.
Now you look pretty young but -- you burned by the dot com bubble did you learn from that experience.
I certainly style lost my sheriff of capital money yes and I think -- you know obviously how to be colorful with violations.
How when you're looking at an industry that's going as quickly as this industry's going which is very young.
It's very difficult to put a volley when something needs you know growing how one of the holdings for instance Sassoon our core a 140 million users.
Growing by twenty million users a month according to the company it's very very difficult to put a violation because as soon as they assumptions to start changing.
The violation changes pretty dramatically now when FaceBook and Twitter do go public -- they immediately going to this -- There is -- and accelerated tried so for those companies are so important to social media globally.
-- they will come into the find a six day after the IPO.
A very personal question if I may I have a good friend from -- turns out owns 10% of FaceBook how much is that 10%.
Going to be worth when it goes public it's sad it's going to war thought all along time and are looking at violations north of thirty billion sew -- wounded three billion will Yury meld -- just turned fifty and 111111.
So happy birthday -- you deserve it he came from nothing in Russia and now he is.
Multi billion are good to see -- thank you very much for bringing this information to a thanks Alan congratulations --
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