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Technology Stocks : CMGI What is the latest news on this stock?
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To: daffydog who wrote (5996)3/14/1999 9:02:00 PM
From: George Martin  Read Replies (1) of 19700
 
Mark-

Thanks for your response to my post #5991. Your reference to Buffet prompted some interesting responses. Common knowledge that Buffet is in the direct lineage of Graham Dodd value analysis and he certainly has been a genius at it. In addition to his knack for leveraging cash flows into higher rates of return through investments, definitely the patient LT perspective of buy and hold was the example he has set and practiced.

It's coincidental that you mention Buffet also for another reason: I consider CMGi the modern day Online Berkshire Hathaway and that David Wetherell has the nose for spotting internet value like Buffet did for more traditional valuation models. Like Buffet, he is taking cash and appreciated stock and investing big time -- IN FACT THE BUSINESS OF CMGI APPEARS BASICALLY TO BE INVESTING--as it is/was with Buffet -- and not execution on a delivery of a product or service. Parleying and leverage cash/stock assets for multiplying rates of return. 2 million invested in both Lycos and Geocities leads to 1 billion plus return, etc. Without being disrespectful to Buffet and what has worked phenomenally well for him, most people have to believe the internet is in fact a new paradigm and new opportunity and can't be ignored indefinitely as either as a driver of business reality or as a necessity for some degree of investment participation, directly or indirectly.With AOL to the S&P, not mention CMGi to the NAZ 100, more recognition and "legitimacy" is provided for internet investment.

Finally the interesting article on Ryan Jacob and the Internet Fund provided by Jenne points out the fund had a 308 % return for 1998 with a surprisingly low 20 % turnover rate. Buy and hold clearly some consideration there. By contrast Buffet underperformed the S & P last year and hedge fund tout Jim Cramer I understand had a return of 2 %, net of fees. There were some other interesting comments about a few individual internet stock in the article -- recommend reading to you and others.

Thanks again for yours and any other comments --

Good luck

George Martin
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