Generally, the first part of the article, on CMGI valuation is (imho) sloppy. He says: "Clearly, CMGI does not trade on Net Asset Value". I've kept track (not religiously) of this and find it remarkable that CMGI has traded fairly smoothly in terms of NAV, lately (2 months) (net asset value = public properties, in my language) plus private properties (ALTA, and the rest), to the extent that the private holdings are fairly immune to market forecs (what a concept! surprise, incubator; might as well be a kangaroo pouch). Good for them (CMGI) to have such respect displayed by the market, seriously.
I do agree somewhat about news affecting CMGI - but it depends - witless Soundview upgraded it into an oncoming avalanche (i said it wouldn't stick!); ENGA & NAVI. Now if you had somebody with substance (even by including ulterior motives) the current balance of NAV and privates would swiftly flip to the favor of the latter, by far. That's what happened in Nov.-Jan. And the Peloquin is correct that the stock moves like lightning sometimes - and right again (likely), when the conditions are set right by MM's, Brokerages, whoever. (and everybody loves the voodoo about MM's, pins, needles, private placements for MSGI, etc.)
Still offer to put up a couple of EXCEL charts if anybody will tell me how and where (say a shadow stock!)
Glad you asked, Dax? I was starting to feel like in an anechoic chamber; finally a resonant sound!
Some of this stuff appeared, on the fly self taught, in:
17360, 362, 373, 376, 387, 17449, 17450, 473, 478, 481, 482, 483, 494. Real anechoically. |
