Malcolm is correct, and fun. Long term, my retirement is on 9984. Short term, I buy the shares slowly as I have a large allocation already, and I trade the call warrant, but only to the extent of 5% of my long position in shares, as I do not want to lose my gains by fritting away on perishable warrants. If you like CMGI, 9984 should give you a better ride, especially when the US folks in general starts to realize
(1) Geographic diversification is valuable
(2) Asian internet revolution will be no smaller than the US one
(3) Strategy does matter when the battle field gets crowded (E-bay, Amazon, etc etc)
(4) One company has the proper credentials and alliances to implement its well thought out strategy
(5) Asia has been, to a great extent, been locked up by this one company
(6) and the same company has a good starter position in Europe as well
My only caution is the US market. I am selling off a bit, reluctantly. I bought 9984 not because their implied value in Yahoo, E-trade etc was at 50% discount to underlying holdings at market value. I bought 9984 because of above 6 facts. |
