VOLTAIRE, CHUZZLEWIT, SKEETERBUGGY, GREG, MILEHIGH, JIM -- ATTENTION
I hear the bears say "know when to sell", "take profits", "get out."
If any of these gentlemen had been in AOL or CMGI since, say, 1994, how many times do you think they would have used this rationale of "taking profits" or "getting out" for the past 6 years simply because it applies to some of their so-called value stocks? Do some arithmetic and put, say, $150,000 in CMGI at, say, $6 a share and buy and hold through splits, and tell me how much money you would have today? What you "value" investors fail to see is the technology behind QCOM and the future revenues. Who has a better long-term revenue producing machine -- CMGI, AOL, or QCOM? AOL's potential was realized a while back. It still has great promise, but QCOM's potential has just been discovered, has it not? Why do you insist on valuing QCOM in the same way you would COKE or Home Depot? Perhaps I am being naive, but just packing QCOM away and coming back in 10 years without looking at the regular market fluctuations seems like a "no-brainer" as it were. I have watched the daily movements and have become a nervous wreck. I will be converting all of my options into shares and making someone very unhappy if they didn't buy their calls back. Unless I'm missing something, I will hopefully be able to look back at QCOM in 6 years and see a like 5 splits as CMGI or a 7 splits as AOL and be amazed at the vast wealth created and very glad I did not listen to Howard Ruff, Joe Granville, Bill Fleckenstein, or SkeeterBug.
You may now all take your shots at this senile old fool.
I remain,
SOROS
ps One of you smart guys do the CMGI math and post the results. |
