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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 92.63+0.6%11:16 AM EST
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To: Offshore who wrote (2409)3/25/1999 2:11:00 AM
From: Dany Tremblay  Read Replies (3) of 28311
 
Re.: There are no assets, save for a bunch of PC's

For us 'ole timers who have been trading for a long time, this kind of statement is hard to get past. We are used to dealing with companies who needed to establish large asset bases to create income. The problem with the net is that it completely destroys most, if not all, of the old valuation indicators.

So, because the net enables a company to generate large cash flow with relatively little depreciable assets, whether or not assets are present in large quantities becomes irrelevant. I buy into the .com's because of the money they can generate, not because they own a fleet of service trucks or vast amounts of machinery. If a net company can generate millions of dollars in cash flow with one $5,000 server and a steel mill can generate millions with one $300,000,000 plant, doesn't it make sense to invest in the company with can make the most with the least?

Regards,

Dany
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