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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 92.23-4.4%Jan 16 3:59 PM EST
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To: David Lawrence who wrote (413)10/27/1998 7:32:00 PM
From: Sir Auric Goldfinger  Read Replies (3) of 28311
 
The reason I point out discounted cash flow is twofold: 1) Stocks in the longer run trade to it. 2) The internet stocks are so far out of whack that it is worth examining (vastly negative).

Now, a new era investor might say just that (this is a new era). If so look at the Railroads in the period 1870 to 1890. If you look a the returns in that sector which truly affected America then as much as the internet is now, you will see that in terms of both equity and debt, 95% of the investments were worthless when it was all over. Only the insiders made money. Sound familiar?

As for my arrogance, well that is in the eye of the beholder, but I find very few people on SI or any other chat boards that do their own research much less thinking. It seems that because they like a product or like a company's chart, they will buy the stock. I can assure you, like impristine says, they "will lose all of their money".

There are plenty of other valuation methodologies. However, pointing to other companies with insane valuations is not one of them. You seem like a sharp fellow, I'd like to hear how you would rationally value this thing. And by the way, the venture world, by and large uses discounted cash flow. Comments?
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