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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: badon518 who wrote (12418)	8/7/1999 10:14:00 AM
From: Scarecrow	Read Replies (2) \| Respond to of 19700

Badon -- In the words of our copulator-in-chief, "I feel your pain." This decline has been nasty. And, unlike others, it hasn't been short-lived, which is troubling. But, then I think of the wisdom or Mark Peterson and Dave Dickerson and remember that CMGI is a long-term proposition. The Internet is not going to stop growing because unemployment is down (the opposite is true, no?). Nobody's repealed Moore's law. Broadband pipes are still coming. Don't get me wrong, I'm no Toffler-esque "The Internet is nirvana" futurist who thinks everything with a dot-com is untouchable. The fact is, there's a LOT of foolish crap in our sector that will never see a dime in profit (did you see the latest Wit-less IPO: Garden.com?? I mean, do gardeners really scream for a Web site? "MyTomatoes" and "MySnapPeas"??? Sheesh, I can't believe they're doing that one with a straight face -- but I digress... ). Content is too faddish -- like investing in restaurant. Today's "Outback Steak House" is tomorrow's Fuddruckers, you know? What endures are the infrastructure plays. (I like Software.com, for example, for that very reason -- the need for e-mail will endure). And CMGI is one of the very best infrastructure plays. (Yes, I know, they have content, too, but they're not single-threaded in that area.) I think the process of investors separating wheat from chaff is very healthy and very desirable for CMGI. It does us no good to be mentioned on NBR or CNBC in the same breath as a Garden.com -- all collectively and undiscerningly lumped under the useful but shallow label, "The Internet Stocks." The sooner "the market" understands the difference between the two, the better it will be for us. After all, what knowledgable Internet investor thinks CMGI is chaff? You can argue about its valuation or certain moves it makes. But very few can argue the long-term strategy (although "long-term" by its very nature implies risks, I'll be the first to admit). Fact is, however, there's a lot of unsophistication in this segment, which accounts for people investing in a Garden.com when they could buy CMGI in the 60s... The best investment opportunities arise when you know something before the herd. I think the concept of Internet wheat vs. Internet chaff presents exactly such an opportunity, which is why I'll continue to stick with CMGI. Hope that pep talk helps -- heh heh -- it actually helped ME. <g> Scarecrow