"People can't help but pour money into Internet stocks. It's the future... bet on it!"
Statement #1, Peter, is indisputably true...
Statement #2, OTOH, is indisputably false. The Internet is not a monolith, and when all this lunatic silliness settles, there will be some net stocks that do phenomenally well and some who will be history, as in, caput, dead, no longer in business...
MSFT for example will be the IBM of the next two decades; it isn't going anywhere. YHOO, on the other hand, well, you all know by now what I think... check out previous posts, newbies, if you care to know; I'd rather not bore the regulars.
Two observations on the Geocities deal:
a) If you use absurdly overvalued stock to purchase a company whose stock is also absurdly overvalued, you haven't really done much of anything to enhance the value of either. In fact, as another ursa friend of mine pointed out, you've used one $1000 dog to purchase two $500 cats...
b) More importantly (and I'm amazed nobody's posted this info yet): guess who owns 30% of Geocities? The ubiquitous Mr. Son! Yes, Softbank owns a 30% interest in GCIT, just as it does in YHOO. The Japanese Jenius will be buying even more ads on YHOO now, I suppose...
As Michael Jordan used to say, go, Bulls! |
