we saw the movie last year, all the talk about bubbles popping and trading volumes down, etc, then came the 100% Nasdaq rise, volumes exploding, and so on.
it's very hard to be bearish long-term on the U.S. and on U.S. companies.
if a big bad crisis ever comes again, it will most probably be externally induced by an irresponsible, senile idiot at the Fed who thinks he can pull all the strings and has it all figured out and he is more intelligent than millions of investors in a FREE market.
even during last year's summer doldrums, EGRP didn't show sequential decline in revenues, but -> SCH and NITE did.
why on earth "the market" punishes the way it does EGRP is a mystery to me.
i have my theories, but i don't want to sound paranoid.
regarding this man, James Marks, from CSFB, he has been CONSISTENLY wrong in his predictions.
what's more, he is assuming that ETrade, and online broker customers in general, ONLY trade "internet stocks", and that is not true.
besides, at what point do you say, all the bad news are already IN the stock??
man, at $ 15 it's $ 4.3 billion market cap with close to $ 2 BILLION in revenues by yearend.
it was being treated today as if it were radioactive detritus.
meanwhile, the Akamais, the Infospaces, the Terra Networks, even the Inktomis, the Verisigns, etc etc, all of them over $ 10 billion market cap with around $ 50-100 million in ANNUAL revenues.
totally irrational.
i never dreamt the market was rational, but... |
