To: pater tenebrarum who wrote (23406 ) 4/5/2000 10:21:00 PM From: posthumousone Read Replies (2) | Respond to of 42523
Media's In-Line Take on Yahoo! is Out of Line By James J. Cramer 4/5/00 7:52 PM ET Click here for the latest from James J. Cramer. How ridiculous is this Yahoo! (YHOO : - news - boards) situation that no matter what the company does, the media act as if it is in-line? I sat at my office, listening to the TV and watching the tape and trying to figure out how the press can determine instantaneously that this was an in-line quarter? How can they do it? How can they pretend to analyze the situation like this? How can they be this glib? We know Yahoo! cold. We know page-view expectations and gross margin guidance and the benchmarks that firms are looking for, and we still can't make a snap judgment that it was "in-line." The more we pulled it apart, the more we felt it was "better than expected." My, what a sham this whole game has become. It astounds me that journalists can look at a printed number on a page, one number, before charges and revenues and page views, and pronounce it ho-hum. My, would I love to have that luxury in real life. It is one thing to dismiss a candidate's chances running for office. Subjective judgments play a role, so does popular opinion. Instant analysis rules. It is another thing to pronounce a company's quarter as a dud through instant analysis when you can't possibly know anything yet. Of course, we know that in the end business valuations will WILL out. But in the short-term journalists WILL out. Which is why, after that great Yahoo quarter -- and remember these guys would rather be wrong but not be conflicted than to be right but own shares -- Yahoo! traded down dramatically after the report. Hit the 150s in a flash. I know that I write from my positions. I am a commentator. But not owning stock does not give you a license to get it wrong. Yet that's what happened to Yahoo! after the close today. >>>>>>>>>>>>> Can someone please rebut this?