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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 (15937)	1/22/2000 9:46:00 PM
From: locke_1	Read Replies (1) \| Respond to of 19700

Mark... Greetings my friend... Although this is my first post here in this current guise, I have been an investor in CMGI and indeed a contributor to the SI forum before (as Lockeon though not as much as I'd like). I must say that I am glad that you are back, my friend, I was wondering if you were around at all.... grin. I just wanted to say something here which may impact on this discussion - or may be construed as presumptious - depending on what one feels... smile.. Essentially it boils down to this.... We are now in the fourth major revolution in Human affairs, and the first that is occuring when the markets are developed enough to reflect the changes. The previous 3 were the shift from Hunter-gatherer to agriculture, to mercantilism, to industrialisation - this is primarily in my opinion ONLY...grin.... Thus it is that we see a major tornado (change to the information economy - primarily reflected in the Internet), spawning mini tornadoes reflected in B2C and B2B, computers, PDAs and a whole host of industries too numerous to list, creating opportunities for us small investors...grin. What Merriman etc. are trying to elucidate are their views based on the last vestiges of the previous shift (industrialisation in its ultimate culmination) onto the shift in the next generation of Human technological development - and doing it rather poorly, I must say. This, however, does not totally invalidate their assumptions, it merely makes them suspect as a paradigm or base as to the valuation potential for this particular era. For the next few years, at least, we are going to hear more about this seeming problem, while the valuations of the companies remain stratospheric. Essentially the argument boils down to this. In the industrial era a PE ratio of 10-20 was considered, not merely acceptable, but the norm. Consider that before the industrial era, in the time of mercantilism or agriculture base, a P/E of 5 or 1 was considered the norm... i.e. before mercantilism the value of ones crop was based on next years harvest at most, and during mercantilism a return of the next 5 years was sufficient to base the value of one's letters of credit. During industrialisation, this expanded to 10 to 20 years. Thus, now there is a shift to a higher level based on one's information capacity. However, what it will eventually settle at is anyone's guess, but surely it will be at a higher level than a PE of 10-20 (and as high as 30-40 for the leading companies). Perhaps this is too speculative a scenario, but I would request any and all to weigh in with their thoughts.... Regards to all.... grin...

To: Mark Peterson CPA who wrote (15937)	1/22/2000 10:27:00 PM
From: JavaGuy	Read Replies (1) \| Respond to of 19700

Mark, LOL! Thanks for posting kooler's comment's. *That is one funny guy, I think I will have to revisit RB. -JG