NEW YORK (MONEY Magazine) -
Michael Price is not your typical venture capitalist. During his 23 years running the Mutual Series funds, Price had little use for trendy technology companies, preferring to twist the arm of a slothful bank CEO rather than pay a premium for a Microsoft or Cisco stock
So when MONEY learned that Price had invested several million dollars of his own money in an Internet start-up called Liquidnet, we wondered what the 52-year-old was thinking.
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Liquidnet is a fast-growing online trading network that allows mutual fund managers to swap large blocks of stock over the Internet, all without a traditional broker. Some market watchers think the firm could eventually pose a major threat to Wall Street profits.
But Price says Liquidnet is even more important than that. He claims it can save fund investors from getting ripped off.
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