Dear David,
"Buy the good stuff, not the bad stuff". I'm afraid I must open my big mouth when I see quotes like that. You apparently are a trader not an investor, and perhaps this stock price was previously inflated, but if you have any doubt about the future of this company let me give you my perspective on what has gone on here.
I happen to be a creative contributor to TSI. I have worked with them for years, and watched them progress putting out more and better catalogues, watched my sales report grow and grow. I know alot of folks at Photo-disc, and know they are crazy busy. I have worked in the advertising industry for a long time. Here is my perspective:
Gety has the double whammy of being seen as an ad industry issue as well as an internet stock. Both of these sectors have gotten whacked lately. Internet stocks have been sold off primarily due to valuation, and the ad stocks have been sold off due to the perception that advertising budgets will shrink in a downturn. Gety is proverbial baby in the bathwater. This is why you should think twice before throwing this one out:
When companies have smaller ad budgets they don't stop advertising, they can't afford to, they just try to do it cheaper. Where previously they might come to somebody like me to create a unique image for them, along with the larger budget that would be necessary, (they must pay for all production costs as well as licensing). They now may look for an existing image among stock agencies to license. If they are really pinched, and don't need exclusivity, they will go to a company like photo-disc that has a flat fee for all useages.
I saw this happen in the early 90's. I felt it happen! People like me who were doing assignment work were suffering while the stock agencies were picking up. Why do you think I became a TSI contributor in the first place? I can say this is an industry that will continue to grow, and this is one of the top companies in that arena.
View from the inside,
Mosko
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