"Like a major league scout recalling a star prospect's first
professional outing, ABN AMRO open source software analyst Keith
Bachman still harbors bittersweet memories of last year's Red Hat
(RHAT) initial public offering."
"When the Durham, N.C.-based company hit a home run on its first
time at bat, jumping 371 percent in its first day of trading on
Aug. 11, 1999, Bachman -- then an analyst with W.R. Hambrecht &
Co. -- was instrumental in the company's open source investment
efforts. By Christmas, W.R. Hambrecht would have a leading stake in
the impressive Andover.Net IPO and minority stakes in two of the
year's biggest blockbuster openings: VA Linux (LNUX) and Cobalt
"Still, as investors raced to jump on the Linux bandwagon,
Bachman, a financial observer with a better grasp of Linux business
fundamentals than most, admits to feeling a bit of concern over the
high expectations associated with Red Hat's home run in
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