One of the best reasons to hold a company is that you like what they do, not because they might make you a fortune.
What?!? Sorry, ahhaha, I couldn't wade through to see if someone else already caught you on this response. If I buy a company because I like what they do, or [I] want to be part of something significant, then I'm either giving my money away as charity or somehow misinterpreting the rise of a company as the redemption of my spirit.
Fundamentally, I invest to make money. I don't invest so YHOO or ATHM makes money. I may choose ATHM because I believe in their product and envision others (many others...) liking and purchasing their product, but I don't give away money in a charity fashion.
Let's cut the altruistic crap and answer the question which was asked: Do we think getting out at $90 was a good move / do we think there will be another chance to get back in under $90? Honestly, much depends on YHOO's earnings report Tuesday. If they smash through the whisper number, then ATHM and others will appreciate significantly enough that 90 will never be considered again. Would I have sold at 90? Nope. Look at the growth of MSPG, ELNK, and AOL last year. If these are good indicators of growth in the ISP arena for '99 (which I believe they are), then I expect ATHM to do just as well as MSPG if not better (>500%). Yes, I think ATHM will be a $500+ stock this time next year, baring a Y2K meltdown. No, I don't really think we'll have a Y2K meltdown.
Moose |
