Investment advisor finds important message at the movies>>
PALO ALTO, Calif. (Reuters) - Not that investors need to be persuaded to buy Internet stocks these days, but for anyone still looking for a reason, one investment strategist has come up with a new one.
Charles Pradilla of SG Cowen Securities in New York, advises the new romantic comedy, ''You've Got Mail'' is more than just light entertainment. It is, Pradilla writes, ''a cultural watershed for the Internet.''
In a bulletin addressed to ''America and Wall Street,'' Pradilla says he came out of the film with a new understanding of the way the Internet is transforming society.
He believes ''You've Got Mail,'' about two New Yorkers who meet through an America Online chat room and eventually fall in love, could result in more people logging onto the Internet.
''As I left the crowded theater, I heard a number of comments such as, 'Marty, maybe we should go online,''' Pradilla explains.
''Though movies should by no means dictate investment decisions, 'You've Got Mail' is representative of the Internet's increasing power as it becomes more intertwined with or daily lives and helps reaffirm investor confidence in Internet stocks,'' he writes.
''While many question 'extreme valuations' of Internet related stocks, I continue to believe that the Internet is still in its infancy as a transaction medium and that sustained, explosive growth is not only possible, but probable.''
Gee, I've known this for 4 years!!!! Maybe I should get a job at one of the big "street" firms?
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