dot bombs
Returned from holiday to find correspondence lying on my doorstep from two internet companies. Both were big names and continually in the news during the internet boom in 1999. Firstly, two cheques resulting from travelocity’s takeover of lastminute.com. Back in 2000, I applied to buy shares in lastminute.com for me, my wife, my auntie and my dog. Thankfully, the share offering was massively oversubscribed and I only received the minimum allocation which reduced my subsequent losses five years later. In fact, the lastminute takeover was very timely as I had two separate, small shareholdings which I was stuck with as dealing costs would have swallowed up most of the proceeds. ...