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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Roger A. Babb who wrote (2589)	2/9/1998 10:57:00 PM
From: Brooks Jackson	Read Replies (1) \| Respond to of 18691

Roger: Consider shorting Dow Jones (DJ), publisher of the Wall Street Journal. It has recently run up to a very high PE for its industry (33, compared to 19 for the Washington Post Co., 25 for Gannett, publisher of USA Today, 26 for Murdoch's News Co., 24 for the New York Times Co., according to Hoovers) The reason for the runup is IMO irrational exhuberance over recent statements by two members of the family that holds a controlling interest, who have expressed dissatisfaction with current managment and a desire to goose the stock price. Here's a release about the latest Fortune magazine article on that: 208.194.155.125 The stock went UP after DJ announced horrible earnings: biz.yahoo.com The newspaper is a cash cow, and the interactive edition is making money. But the company has a long history of missing big opportunities (it could have been Bloombergs AND AOL, but didn't have the vision) and then wasting tons of money trying to buy into the new businesses.