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To: John Koligman who wrote (13743)	6/15/2005 1:05:21 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 13815

If Google gets a 300 billion valuation I'll eat my hat. He he go out and buy an edible hat then! But remember, thats a long term call. I don't know what GOOG will do this year, or next. The trend is up, thats all I know. But I added last year at 165 or so and it sat there and churned until March when it finally took off. So you can wait a long time for GOOG to absorb his gains. I was around when the first PC froth period busted and microsoft emerged from the rubble. People don't think that was a bad period in tech, but let me tell you, it was bad. Not as bad as this last one, but right up there. IBM to msft then, was exactly like MSFT to GOOG is now. Its uncanny, wierd even. First msft started hiring all the top IBM people. Thats already happened for Google, all the msft star engineers are there. Then you got all this buzz out of microsoft that they were working on things that you thought were "out of their league"- like excel (because initially, msft had win3.1 and that was all). Thats how GOOG is... I know the calendar/mail (outlook killer) and OS and payment processing is coming. Then one year they released it all and it was over (for IBM, then). There's a huge number of pissed off shorts in GOOG and it creates a healthy amount of skepticism which is what we need.

To: John Koligman who wrote (13743)	6/15/2005 1:16:28 PM
From: CFA	Read Replies (1) \| Respond to of 13815

<<I saw Lizzie's comment on the 1k for Google, put me firmly in the skeptic column. If Google gets a 300 billion valuation I'll eat my hat.>> Someone should bookmark that "GOOG at $300 is a long-term buy & hold" post, as it will likely provide comic relief in a few years. The value spread between GOOG and YHOO has widened to an extreme. Even if you believe that the markets GOOG serves will continue to explode, I'd rather play YHOO. Better yet, the best trade might be to go long YHOO and short GOOG, betting that the spread between the two will narrow (Disclosure: No position in either GOOG or YHOO). In any event, John Hussman--who estimates GOOG's true value to be in the $30s--wrote a commentary last weekend that offers a good explanation of GOOG's current valuation as well as overvalued stocks in general. Hussman's explanation can also be extrapolated to stocks hitting 52-week lows. hussmanfunds.com Basically, a company reports a good/bad quarter and gets taken to temporary extremes, based on false extrapolations that these temporary results will continue indefinitely. It's why I focus on stocks that are largely written off and trading at multi-year lows. The strategy worked with NOK @ $11, PFE @ $23, BBI @ $7, WDC @ $7, and many others. Hell, even MYG ended up working out.

To: John Koligman who wrote (13743)	6/15/2005 3:46:58 PM
From: Sig	Respond to of 13815

As all traders must, I was taking some heavy fire yesterday- from hidden Japanese mortars I believe. Attacking my strong position In IIJI, a stock I am now willing to forget for few days. I got most of my men out and took some captives before the fort collapsed, but right now I need some R+R and will dig a deeper foxhole before venturing out again. Its was rough going out there. My battery desulfating kit has arrived and I will assemble the few electronic items involved. Can buy a finished one for around $50. but its more fun to make one. Sig