To: Robert Rose who wrote (79536 ) 10/4/1999 7:49:00 PM From: Jerry A. Laska Respond to of 164684
FWIW, Mr Blodgett writes the great American novel: >>Merrill analyst Blodget lands Internet book deal NEW YORK, Oct 4 (Reuters) - Henry Blodget, the at-times controversial Internet analyst who once single-handedly caused the shares of Amazon.com to rocket skywards, is writing a book about the Web universe, publisher Random House said on Monday. Blodget, 33, resident Internet stocks analyst at the nation's largest retail brokerage Merrill Lynch & Co., will write a nonfiction book examining the forces underlying the development of the Internet. ``My aim is to tell the story of the Internet as an agent of economic change -- from its commercialization in the mid-1990's to its ongoing impact on the global economy and stock markets to its likely endgame,' Blodget said in a statement. He grabbed national attention while working as an analyst for broker CIBC Oppenheimer in December 1998, when he set what appeared to be the astronomical 12-month target price of $400 for Amazon.com (NasdaqNM:AMZN - news) stock -- then trading just above $200 -- sending it exploding upward as much as $60 in a single day. Amazon's stock hit his $400 target within 12 days, amid a flurry of speculative buying that gripped the Internet sector into January of this year. Blodget has yet to duplicate that feat since joining Merrill. Amazon eventually rose to a high of around $600, but in subsequent months retreated to the equivalent of $230. After a three-for-one split in the price of its shares, Amazon now trades at $77, after investor ardor cooled for online retailing shares such as Amazon's. Blodget's book, which has not been titled, is scheduled for publication in May 2001. He is being represented by celebrity literary agent Andrew Wylie. Blodget, who began his career as a freelance financial writer and worked for CNN Business News and Harper's magazine, joins other Wall Streeters who have capitalized on their central role in picking winners and losers among Web stocks. Influential Morgan Stanley Dean Witter Internet analyst Mary Meeker started the trend with the publication of a how-to-guide for Internet investors in 1996 and has since published several follow-ups. Another analyst, Paul Johnson, an Internet equipment analyst with brokerage BancBoston Robertson Stephens, last-year co-authored ``The Gorilla Game,' described as a guide to picking ``winners' among high-technology stocks. He wrote the book with management consultants Geoffrey Moore and Tom Kippola. They are part of a growing publishing phenomenon that is seeking to tap a popular fascination with the Internet and Silicon Valley, its heartland...<<biz.yahoo.com