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

To: Mark Peterson CPA who wrote (12442)	8/9/1999 4:10:00 PM
From: Netwit	Read Replies (1) \| Respond to of 19700

Mark--we aren't in disagreement as to the validity of a control premium in valuing stocks. I hope you don't think that I dispute evidence of a control premium in valuing companies. It's also true that when a stock is "in play" it's price goes up. Where we differ is whether it is appropriate in valuing CMGI to include control premium or whether we should look more to the closed-end fund analogy. I just think that CMGI is more like a closed-end fund. I'll tell you, it would save us a lot of time trying to value it if it was just treated this way because the premium and discounts of closed-end funds are regularly published. And, that is the issue that CMGI has been dancing around with the IRS. It's the same issue that the ICGE has. Interestingly, Softbank does not have this issue because it is not a US corporation. Because of this Softbank, is free to invest in minority stakes with abandon. CMGI is always having to argue that it is not really a mutual fund or holding company, that it has operations. I don't know about you, but the reason I bought CMGI was because it was like buying a mutual fund with a heavy venture capital interest. It's a great play on IPOs which are so hard to participate in. I don't mean through their DS program, I mean that when engage goes out in the teens and rises to the twenties that pop is now included in Sunny's valuation. Anyway--I appreciate our debate because I think that that is why these boards are useful--they inspire people to think(~.~)