<a href="http://www.example.com">link text</a>
The value of link text is debatable. On one hand, it does provide the author the ability to link any words or objects in their hypertext to anywhere else, in a fairly fluid, generic, and elemental way. In this way, link text is rather more like text linked, and it can be a very powerful way to connect or relate two pieces of information. On the other hand, the link text obscures the target destination, which itself may hold valuable information. In the worst case, the link text could lie. For instance, the link text for [WikiWikiWeb] misleads the reader into thinking the link goes to WikiWikiWeb when it really goes to MeatballWiki's homepage.
In situations where the address of the target is not some sort of CommandLineInterface? or SystemCode?, the better option is often a NamedLink?.