Domain Names: Land Grab of the 21st Century

James Altucher believes there's big money in domain names and he's watching companies which are stockpiling them. Among his favorites are VeriSign (VRSN), the monopoly which issues all .com and .net domain names. After all, "mortage.com" sold for $242,000 last year - misspelling and all. Altucher calls this "the land grab of the 21st century."

Sounds like he's just drooling for Go Daddy to come back with another try at an IPO. "The company filed last year... but was making so much cash that it decided not to," Altucher wrote.

He also likes Marchex (MCHX), which owns some 200,000 addresses including domains for every zip code in the country. Is there money to be had? Altucher says a hedge fund manager he knows has been buying coming names for 10 years, and has already turned down $3 million for one of them.