No problem, Fred. My word choice (today) was a problem too, but I'm on the West Coast, so it was still Wednesday in my mind. There's a lot of chaff floating around out there, so I'm glad someone is paying attention to details!
That sort of correction (and quite likely a bigger one) is likely to happen, but I can't watch activity intraday and I know that I can't predict what level that correction will come from, so I buy and hold a few select Internet issues that, I believe, will be worth holding for years. Heck, you could have a 75% correction and still be up from last week on LCOS and SEEK. I love CMG's relative diversification, and also the opportunity to have a stake in Internet issues before they go public and get hyped. CMG's biggest-name holdings, private and public, are already hyped, but their other 20-some companies are not, for the most part. There's a lot of potential upside there, even at these prices. By contrast, the search engines could have a problem on their hands, in my opinion, as traditional major media players enter the sector in a big way as traditional and new media come closer together. Eventually the search engines will have to pay for content that they get for free right now, especially if they are competing to provide the best content. That will cut into the bottom line. Who is providing the delivery technology to accelerate this merging? Companies like InterVU. Who is providing the sort of content that will be delivered? Companies like TUNE (TCI Music), that, unlike the search engines, already have ready access to a whole lot of content (music and video and technology from TCI in this case).
Ajunkh |
