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Technology Stocks : CMGI What is the latest news on this stock?
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To: Peter Blanchard who wrote (4466)1/30/1999 1:01:00 AM
From: Phil Jacobson  Read Replies (3) of 19700
 
"Now we're the proud owner of just under 3 percent of Yahoo," said Bill White, president of CMGI's Internet business group. White added that CMGI has every intention of hanging on to its Yahoo shares."

I sincerely hope Bill gets over the afterglow of the GCTY deal quick and regains his senses. My interest in CMGI is mainly based on the fact that they are an incubation company of NEW net stocks, some of which have growth potential of hundreds of times over the initial investment made by CMGI. Keeping a sizable portion of their portfolio in Yahoo is 180 degrees away from that model. CMGI will have a YHOO overhang to its stock from now on. It will start to look like an index fund of established Internet players with money managers playing the primary role if this attitude keeps up.

I'd much prefer them to sell all or most of the YHOO and use the cash to do what they do best - invest in great Internet entrepreneurs who have far more upside potential than YHOO at over $350/share.

Phil
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