BAM
Didn't mean to come off as a critic.
I know you know this stuff better than most if not all of us, and your confidence is unwavering.
Nonetheless, your argument does sound to me like an argument that they are overvalued....not because they are trading at cheaper than a yahoo/subscriber ratio, but because they are expensive on a price to sales ratio beyond belief.
Having said that, My comments were tainted by my irritation that the buckeyes lost last night and I had to take it out on someone.
Sorry to have made it you.
I am long on BCST, and I do think they have a wonderful future, alone or acquired, but I couldn't make any rational argument that they are reasonably priced.
You are correct, our margin release on many of the internets is 60% vs. the standard 70%.
I will also point out to all that the brokerages as a whole do get it on the internuts. They were slow to the bandwagon but they have arrived. Seeems to me the only ones left that don't get it are the money management firms and the individual investor on the street.
I say that because I still find it dificult to find an individual investor who is long AOL... When i solicit an order for that company the client usually is surprised at first, then when they understand the story, they are very comfortable with it. They buy it because they trust me. A prospect still thinks I'm nuts,and I rarely have success with them on this no-brainer.
Aol, and the internuts are underowned by the ind. investor in my opinion and until they are overowned, I feel we still have some relatively easy money to make. |
