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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (33176)	1/1/2009 7:09:47 PM
From: Spekulatius	Read Replies (2) \| Respond to of 78621

GOOG - supposedly GOOG is a growth stock in any economy but I think might be seeing the end of GOOG outperformance where macro pressures are having an effect on search. in addition to the law of large numbers. FWIW I recently bought a little IACI. They are aan also run in search but have some internet business that seem valuable (Match, Citisearch, Servicemagic). The nice thing about IACI is that they recently spun off 3 companies (that subsequently tanked) and got rid of the debt. They had 1.3B$ net cash after the spinoff and get about 400M$ (net of tax) more from the sale of the Japanese TV shopping business for a total of 1.6B$ net cash which is 73% of IACI market cap. Of course having Diller as a CEO does deserve a discount but the current valuation net of cash is ridiculous, IMO. FWIW, recent weakness is attributed to Malone selling out.