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To: GST who wrote (4257)	12/19/2000 6:55:18 PM
From: Bill Harmond	Read Replies (1) \| Respond to of 57684

Be careful, GST. Seven more days in a row like today and Yahoo's at zero. Weren't you the one warning us about irrationality?!! Oh right, but you DO know what Yahoo does, right?

To: GST who wrote (4257)	12/19/2000 9:24:50 PM
From: craig crawford	Read Replies (2) \| Respond to of 57684

>> And what are the prospects? Dimming by the day it seems. << All of YHOO's competitors are dying off. YHOO has over $1.2 billion in cash. Subtract that out of the market cap before you start talking PE. They are not burning that cash up. Second of all you are talking trailing PE, the market looks FORWARD. Yes, YHOO might not look so hot for the next six months, but remember, stocks don't bottom when you start hearing the good news again. They bottom six months before the good news starts rolling in. For the next six months YHOO doesn't have to deal with nearly as much competition as it did before. YHOO can manage it's expenses and take advantage of these high interest rates to generate some nice income from all that cash they have. I think YHOO can manage the bottom line well enough to survive this downturn ok. At 250 this is not what YHOO investors want. At 25, if I become a shareholder I don't mind seeing YHOO slow it's aggressive expansion and do some cost cutting so they can make the numbers on the bottom line. It used to be important for internet companies to spend as much as they could as fast as they could to get largest fastest. Now that YHOO has achieved that they can slow down as necessary and manage the bottom line and worry less about being so agressive on the top line. I hope that wasn't too redundant. Not long YHOO yet, but very well could be by tomorrow. (via call options). They report Jan 10th I believe. Not only that, but maybe YHOO can cut costs by buying all these used Sun servers that dying internet firms seem to be puking up <G>

To: GST who wrote (4257)	12/20/2000 3:02:18 AM
From: Bill Harmond	Respond to of 57684

I don't get your point. Yahoo is a failure because the stock has declined 90%? Or, are you saying that the market in and of itself is a perfect prognosticator, and we better play price momentum? Both of those are mindless, emotional arguments, GST. They make no sense. Technically, Yahoo is a mess. Technology is a mess. If you're a technician you stay out until you sense safe entry points. But NONE of this has anything to do with investing, or the fundamental strengths and weaknesses (cyclical or not) of the companies theses shares are property rights to. If you're an investor, You buy Yahoo and don't care if it goes to 14, because Yahoo will make new highs again. Companies of Yahoo's quality are not flashes in the pan. And a company that can achieve a globally-dominant user base and Microsoft-levels of operating profitability in its first three years as a public company, doesn't just blow away, even after a tough adjustment period to its markets. You certainly didn't insult Iomega shareholders (an interesting story here, BTW) with comparisons to Yahoo. You showed how little you know.