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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (3005)	11/20/1997 3:37:00 AM
From: Bill Harmond	Read Replies (1) \| Respond to of 27307

>>Yahoo is a search engine that sells banner ads. This business may change dramatically over the next few years...perhaps (dare we say it) for the worse. Maybe, but I doubt it. >>If you can extrapolate its growth 20 years into the future, then you are a much more prescient investor than I am. My guess is that if we weren't in the midst of a speculative stock mania and momentum "investing" fad, you'd be singing a different tune. $7,600 compounded at 20% for twenty years is $300,000, a 38x return. >>We haver already seen evidence that Yahoo's sequential revenue gerowth is slowing...and let's not forget my favorite point...in the last year and a half Yahoo has had exactly $200,000 in operating earnings. Sounds like a short talking. I haven't seen reasonable evidence (to me at least) that growth is slowing, and I assume you're implying that Yahoo will have operating earnings totalling $200,000 over the next year and a half? If that's really your favorite point, you truly are a cementhead! >>Believe it or not, earnings DO matter....even for Yahoo. Buying at $50 builds in a lot of pie-in-the-sky growth expectations. Pie in the sky? The Internet changes everything.