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Technology Stocks : America On-Line: will it survive ...?

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To: Jason Cogan who wrote (9094)3/28/1998 10:21:00 AM
From: Harry Larson   of 13594
 
<whose stock price is never affected by bad news or competition, and
<only seems to go up? If someone could tell me that, I'd gladly pay
<them handsomely.

Look no further than analysts who en masse ignore notion of risk
only hype reward; and whose concept of valuation is on projections
for at least two years away, goosed further by 'visibility' even
further out; and that AOL is "undervalued" relative to YHOO.

They also tout every little thing AOL does as "brilliant" as soon
as it is announced, but long before it plays out, and either ignore
failure or paint it as success. Just last autumn they were gushing
about AOL Studio's major content initiatives; projecting $100-$200
million contribution to revenue in '98. Starting last month, AOL
dismantled Studios and yanked or drastically cut its major projects.
The analysts touted that as great because it would cut costs.
Nothing about the dashed visions of mega original content creation
a la Disney.
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