Guru,
I will be returning to the board in early January. Before I leave for an Internet-free holiday, I wanted to respond to something.
I read with interest the open letter to Mary Meeker you posted a few days ago. I don't have time to respond now, but would like to revisit the issues in that letter when I return. I am not generally a believer in conspiracy theories, but I do think that what is going on with this stock and others in the sector is hard to explain by reference purely to individual investors. On two separate days in December, Yahoo went up more than 30 dollars per share, a market cap increase of about $3 billion for the day. The first time, it fell back quickly, then after a struggle regained altitude. But the second time, right before end of the year reports were due, it just stayed put. So something strange may be going on here, and the answers may lie within the thinly veiled suggestions of the letter.
Might I suggest that you re-post the letter in early January, say the 4th or 5th, when some people who are not on the Net during the holidays have returned? It might ignite some useful discussion then.
Thanks, and best wishes for the New Year to you and everyone else on the Board, whether long, short or just watching in horrified fascination.
MAD DOG |
