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Technology Stocks : CMGI What is the latest news on this stock?
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To: stock_bull69 who wrote (11665)7/12/1999 8:26:00 PM
From: PDL  Read Replies (1) of 19700
 
I agree with some of the sentiments already expressed... WB has been a legendary investor over the years, but he likes a stacked deck: he gets a sweetheart deal to take a position in Solomon when it admittedly needed the support... and there are other similar deals in his career (but the company in play ALWAYS wants WB as an investor to help hype the equity market for the stock. But now we're in a new investing era that he doesn't understand -- the values aren't as clear as Coke or the Washington Post... there are no natural monopolies to take advantage of.

By saying that there is going to be a correction, even a major one, is stating the obvious. Herb Allen should have asked Warren "when... and who?" I think Warren misses being atop the Forbes 400... the "Richest Duck in the World". While he's still up there, he can see all these internet and broadband barrons stepping up to take his place... and doing it by creating services and technologies that create value and interest and capture eyeballs. Just because the Washington Post hasn't figured out how to play this medium -- I guess it's beyond WB's capabilities. And we should all remember that Warren Buffett has made his billions investing -- just like the people on SI. I'm sure Berkshire Hathaway was once a good operating company, but the billions have come from investing, not by creating superior products.

JMHO -- not going to lose sleep with WB bashing the internets.
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