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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (820)	5/9/1998 1:58:00 AM
From: Bill Wexler	Read Replies (1) \| Respond to of 4634

I've thought about this one a great deal and it does scare me. I've seen companies like Nextel trade at ridiculous caps for years based on perceived value of licenses and future potential for subscriber bases - even though the company is awash in red ink. The fact of the matter is that investors are willing to sit on these stocks for very long periods of time because they believe the true value of these assets will eventually be unlocked. I get the feeling that the same sort of thing is happening with ATHM; however, I'm not convinced that there is a lot of underlying value here. So I remain short and play the same game I did with Yahoo - basically go nowhere fast by hedging with options.