even AZ3 is feeling the pain he does like his stock so low.
How can he be the Billion Dollar Man with a flood of Net IPO's
If you stop printing them, we'll start buying them.
That's the collective deal this market wants to offer the investment bankers out there. With this last spate of deals still stuck like old food on a plate you forgot to put water on before going to work, the market wants bankers to wash the dishes and get to the Hamptons already.
We need a breather. We express that need for a breather in the Edgar Onlines (EDGR:Nasdaq) and the Bon-Bons, stocks that have violated their print prices. We know that the impact of supply is making Net ownership hazardous to your health, even as many of the Net businesses are doing quite well.
Traditionally, right about now, the investment bankers who pump this stuff out like to pack up the family in the his-and-hers Range Rovers and head out to Egypt Lane. This year, they seem to be less inclined. They have too many deals to do.
My advice: Get a little less bottom-line-oriented. Your quarters have been made already. You are killing us with your overtime creation of dot-coms. Take the summer off already!
Markets are driven by supply and demand. If you give it time, the vast sales apparatus will find a way to put the merchandise that is barely floating out there into firmer hands. The flood gets taken care of, provided you stop creating the rain and you close a couple of windows.
Yesterday, during the height of the DOT's decline, before the turn in bond-market fortunes, I heard the first piece of good news in weeks for the Net sector: A deal had been held back, ostensibly because of SEC problems, but perhaps, in addition, because the market is too soggy to absorb more.
Two or three more of these cancellations, and I know the bankers will opt for Asparagus Beach and Guild Hall for the summer.
And then I will want to do some owning -- instead of scalping<?i>
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