So estimates have come down- big deal. The only problem it presents is the immediate one: people selling on the news. Analysts don't mean crap to me. I bought more, and still think it is a great deal. Will wait a bit longer to get more, but today could easily be a single seller...I have done quite well over the last month (not bragging- did quite poorly the 3 months prior to that :) picking up the "garbage" that nobody else wanted. Also had 40% gains in JDAS after buying after the earnings fiasco- which of course I have given up now :0 But rather than be upset, I bought more. I have finally decided to make my own decisions, and screw the market. Whether I am right or wrong is only up to me- nobody else.
Hell, can this market be so smart as to award an $8billion market cap to EBAY with 30M in revenues and 76 employees? Can an online bookstore, AMZN, be more valuable than another online bookstore, BKS, which also has 500 profitable store locations? By a factor of 7? Was the market right when it dropped jdas to 7, only to see it pass 10 a month later? Can 50% swings be indicative of an "efficient market"?
I like the business, I like the balance sheet, I like the fact that they have signed quite a few new contracts in Europe and have filled the vacant management space there. And I like the fact that those bozos at DLJ are selling this one to me for cheap. Maybe I am wrong...would be about the zillionth time...but that is a whole lot less wrong than DLJ and the rest of the Wall St Anal-ysts have been over the years... |
