I've been out of action for a while, on vacation in Florida. While there I did attend the money show. It was interesting in that there weren't a whole lot of new ideas or stocks. The internet is getting a bit old and nothing exciting has come around lately. Technologically we seem to be close to running out of exciting ideas. Faster, cheaper, smaller, but nothing new really. I went to one session with some internet mutual fund manager- what a bullshit artist. He mentioned he bought amazon, aol, and yhoo a long time ago and he paid very little, yet here he was still hyping them at these prices. Plus he lumped them together, not distinguishing that aol earns real money, yhoo is beginning to, while amzn is the worst tulip crazed hype in the last 300 years. At another session Louis Navallier, who I like, predicted the market would have trouble till late March, early April when a lot of money would flow into the market. He apparently looks at money flow intensely. I agree with his predictions. The ugly internet charts make me think that the inets will not be back too quickly, if at all. Many of them will never return to those crazy values they had in the beginning of January. Other will take months or longer to return. It may be the craze is finally over, or maybe we get another round in April. I don't think the hiflyer craze is in trouble though. Dell msft csco etc should be back and do fine as always. They have the earnings to power them forward. They have literally earned their keep.
Incidentally is it possible to buy puts on any internet index? |
