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Technology Stocks : CMGI What is the latest news on this stock?
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To: lebo who wrote (5789)3/11/1999 10:27:00 PM
From: stockman_scott  Read Replies (1) of 19700
 
FYI...Here is what Merrill Lynch said yesterday in their Internet Investment Philosophy Statement:

<<We regard the Internet as a global mega-trend, along the lines of the printing press, the telephone, ad the computer...and it is changing the way companies and people communicate, research, buy, sell, and distribute goods and services, and spend leisure time. We believe it will affect multiple industry sectors in the world economy over the next decade.

We believe that the Internet will continue to cause the creation and /or redistribution of hundreds of billions of stock market capitalization in a variety of sectors-with big winners and big losers.

We recommend that investors develop a comprehensive industry-by-industry Internet investment strategy, whether direct or indirect, offensive or defensive. The aim of such an exercise would obviously be to move money where the growth is.

We agree that the leading pure-play Internet stocks look very expensive, but we think there are good reasons to own small positions in them anyway. Among these is the belief that the real "risk" in such open-ended opportunities is not losing money, but missing a big upside.

We believe the least risky Internet investments are also the most expensive-the sector leaders. If the "bubble" ever bursts, we believe that what will be left are a few fast-growing companies with big market capitalizations- and a lot of wreckage.

We believe that the Internet stocks will continue to be sentiment-driven and extraordinarily volatile - and there are clearly favorable and unfavorable times to buy them (although the only mistake thus far has been to stay permanently on the sidelines).>>
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