Hey Malcolm...a man after my own heart...I think your post nicely details why I've done what I've done and I'm sure I'm not telling you anything you don't already know.
Here's what I did...I own both CMGI and SFTBF, but have a chunk of 9984 and only enough CMGI to spread on a cracker...I also thought that CMGI is/was stuck and the love affair between CMGI and the investment community has cooled considerably...but rather than deep six my entire CMGI holdings, I did carve off half and split it between 9984 and QCOM and I will, over the next week or two consider dumping my remaining CMGI shares...there's old tech (CPQ, DELL, etc), there's old net (AMZN, CMGI and EGRP), there's new net in the form of B2B, all the net backbone and the plumbing and wiring stuff (ISLD, JNIC, FDRY, etc) and finally there will emerge the GLOBAL net players the likes of Softbank (quick, name 3 other truly gobal net firms?!) who own massive chunks of all the above...9984 has carved out a big fat niche in the net space as the only true GLOBAL net player.
I also think the fact that 9984 is mostly institutionally owned vs. CMGI which is mostly owned by individual investors seems to keep the stock fairly stable and is not as prone to panic sellers from the latest Fed action, world economic news, int rates, Q results, etc.
The ONLY thing that keeps this stock down (if you could ever say such a thing!) is the fact that most Americans are very egocentric and still think Softbank is a Japanese Bank of sorts...although 9984 has runnup massively, it is still virtually undiscovered, undervalued and underplayed in the US...my money will continue to flow into Softbank based on my view that it is one of the few virtually undiscoverd global gorillas of the net. |
