DiB-I'm here. I remember when cmgi last hit $81,and I was in the red and everyone thought the sky was falling in .
Here's some reasons to be positive
1. 8-12 new ipo's will be coming out this year, with Chemdex and Engage already announced (I plan on hopping on their bandwagon the AM.that they come out for a short ride (of +60 to +140%)
2. Co. is cash rich and reviewing 1500 potential investments per month,and investing in the cream.
3. The internet is growing at rate of 3% per day,to quote DW if a good mgt. team can't make money in this environment,then we should take a job picking fruit.
4. Cmgi stock made 906% in 1998 and +307%YTD ($52 to $212 so far)
5. New things coming for Lycos, which will make cmgi happy.
6.I-cast soon to come out and will be big.
7. Prudential just came on board with a stong buy and a $300+ target.
8.In two days you will recieve your second 2 for 1 stock split of the year.
9.Sharp mgt. team members are being put in place in a lot of key areas.
10.History shows us that the last time cmgi took a major dip to $214 on April 19,by Friday of that week it was up to $258.
11. If you are still feeling down, pull up a 5 year chart of the creature to get a sense of what direction it is going and try to ignore the 2.6 beta.
12.Navisite is growing like gangbusters,with 20 people in '97 and 150 now, soon to be a ipo.
13.Silknet ipo is not doing bad,out at 16 now at 38 or so.
Now if you are a short term timer, then you could be sitting on a loss, because cmgi is very hard to time lshort term, but if your investment window is 3-10 years,you are doing just fine. Look at posters with basis of $7 per share.
Disclosure,I haven't sold anything and still am on my way to be a millionaire by end of year.
Good Hunting
DAVE DICKERSON
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