>>didn't warren buffett say that no one ever made a dime, net net on the airline industry?
Yes. There are a couple ways to look at that. Airline companies specifically (because that is what Buffett referred to) are fixed cost, highly taxed, highly capitalized, government regulated companies fighting for share on their most lucrative routes often by foreign-subsidized competitors, using equipment that is quickly obsolete. It's a horrible business model. Doesn't have anything to do with the Web, except maybe the ISP business!
The second way to look at this is the air travel industry which as created lasting prosperity in everything from aircraft-manufacturing, parts (as GE how much they make on their engine business), construction and mantainance of airports, food service, fuel, agent ticketing, etc. There has been plenty of money made.
I worked my entire carreer in radio and television. I know the Radio story, but this isn't 1929. Someone conveniently picked 1929 to make their point like the bears around this thread pick the highs this winter to make theirs. Secondly RCA made plenty of money. So did CBS, and ABC, and Cox, and Capital Cities, and Corinthian, and Metromedia, a slew of others, and todays operators who have some of the best businesses around. Station ownership is still a license to print money. Broadcasting stocks were some of the greatest performers ever....after 1929.
>>, but there will be bag holders galore in this industry, and many will have bought the stocks on your profile.
I doubt the last point, but then I believe in my list pretty strongly. You put up a list of your own Ike, and we'll revisit this day in three years and compare notes. Your singling-out my list specifically carries the rsponsibility to provide an alternative. I'll put up this list of new-economy names for three years from this Tuesday against a list of 26 different companies you propose.
AMSC, AMZN, ARBA, BRCD, BVSN, CMRC, CRA, DCLK, EBAY, HGSI, ICGE, INSP, ITRA, MU, NPSP, PHCM, QXLC, SCMR, SCON, SONE, SYBB, VCNT, VIGN, VRSN, VRTA, YHOO.
Have at it, Ike. Give us something better. You have a couple days. |
