What a critic, Pru!
Still angry at me for beating up on Pru's Ralph A.?!
First, you should know I'm a stalwart for full-service brokers. Most of 'em can't sell themselves against SCH and EGRP, but I can. (Apparently, you can, too.) I teach 'em how just for fun. Spend a fortune in transaction costs because a good broker's worth every penny. What's more, get no recommendations from PWJ. Told the analyst to get BCST for the Internet conference last week (he did, Wagner keynoted) and put the whole office into the stock, broker included.
As to my BCST rap, Pru, how can you come to that conclusion?! What I'm saying is that "value" investors think of Boeing (BA) as a "high-flyer." The Nets scare 'em silly. So you need to look under the hood and see how the engine works. When you do, you take off your green eyeshade and "get" what this metaphor's all about. Alas, most investors just can't. So they buy big funds and under-perform.
Now tell me, Pru, how easy is it for you to put somebody into BCST? If you really push it, you get slapped on the wrist. And if you push it and you're wrong, you get...arbitrated! It ain't on your recommended list, so it's strictly "unsolicited." Worse, Prudential, like so many others, probably restricts margin on the Nets. What's it take for BCST, 60 percent? 70 percent? Now that's a "herd mentality" if there ever was one! The Street's saying people can't be responsible for their own investment decisions. They need "restrictions." They need...Magellan! Bah, humbug!
Read my posts again, and see if you don't find a simple message: in letting itself be acquired, BCST isn't selling whiz bang technology or dazzling profits. It's selling powerful momentum and most of all, a user base of 1 million unique daily visitors. It's all about traffic, Pru. At a takeout price of $150 per share (roughly $5B), YHOO would be acquiring BCST's traffic at *half* the market cap of its own users. Now, we just happen to have a word for this kind of coup: "CHEAP!"
BAM
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