No, not earnings. Whar matters is the economic outlook within the next few years.
AOL, YHOO, even AMZN are differen stories to tell. YHOO posts (small) profits and has a product we all use today. YHOO has reached a step GERN could reach in 5 years.
At least if there are no earnings, there are revenues or - numbers, like page count, which are used to estimate forward revenues. Clear. There are ways to value Yahoo, and the market seems to adopt and support the skyhigh yhoo valuation. I know only few guys which shorted yhoo - with little chance of success.
That makes the difference.
Geron is an option with an indefinite expiry date, like many company shares are options, they can get in the money or they expire worthless. Problem is that the Geron underlying is not visible yet.
C.
As always, if there is a greater fool, sell him stocks as long as u can |
