Wednesday, August 18, 2004
There's not much going on today. Those last couple of posts were pretty long so I thought I'd cool it for a while. There's a tax auction in Nashville today. I'm not going unless the Metro Planning Commision's website doesn't start working. I've been through this before. I should look up my properties sooner, but I'm lazy. I want to wait until the last possible minute to look them up. That way I won't be looking up properties that won't be there later.
Anyway, it's acted up like this before. It started working properly last time at about 9 a.m.
There's been a lot of talk about this Google IPO. Basically an IPO is an "initial profit offerng." It means that they are going to become a publicly traded stock and this is your first chance to get in. They stated that they were going to hold an auction to determine the price. They said that they were going to offer 3.5 billion. Now they are only offering 1.9 billion dollars worth. They might have violated the SEC's rules in some interview to Playboy. They've had one bank back out. It's like it's the tech boom all over again.
The problem is that it isn't. It's the tech bust. Negative news seem to be affecting tech stocks more than positive news. These Google guys need to be careful. they are going to wind up kicking themselves in the butt. It will be very interesting to see if their stock shoots up or down in trading. I think it will do one or the other, I'm just not sure which.
Basically, all this boils down to one thing. Don't screw up the deal. Keep your mouth shut. Try to make everyhting as smooth as possible or else your stock will crash.
Eventually, they will crash. The truth is that back in the nineties, anybody with a tek, dot com, or an e in their name could expect to soar. Not because they were making good money, but because we were all crazy back then.
Just ask TheStreet.Com. They opened at 40 dollars a share back in '99. Today, they trade at around three dollars a share. They are a website that advises on stocks. Surely they could pull their company out of the muck. I'd like to show you some of the worse companies (DrKoop.Com, Snowball.Com, Pets.Com), but they don't exist anymore.
Google is just doing this at the wrong time, and when I say wrong time, I mean the wrong decade. Try the next one guys cause you aren't going to do well in this one.
They were all going to be millionaires. They were never going to work again. Then the market crashed, and they were afraid that they were never going to work again.
There are several great books about the tech bubble such as...
dot.bomb: My Days and Nights at an Internet Goliath
Dot.con : How America Lost Its Mind and Money in the Internet Era
All the Rave: The Rise and Fall of Shawn Fanning's Napster
Market's open. Later dudes.
Anyway, it's acted up like this before. It started working properly last time at about 9 a.m.
There's been a lot of talk about this Google IPO. Basically an IPO is an "initial profit offerng." It means that they are going to become a publicly traded stock and this is your first chance to get in. They stated that they were going to hold an auction to determine the price. They said that they were going to offer 3.5 billion. Now they are only offering 1.9 billion dollars worth. They might have violated the SEC's rules in some interview to Playboy. They've had one bank back out. It's like it's the tech boom all over again.
The problem is that it isn't. It's the tech bust. Negative news seem to be affecting tech stocks more than positive news. These Google guys need to be careful. they are going to wind up kicking themselves in the butt. It will be very interesting to see if their stock shoots up or down in trading. I think it will do one or the other, I'm just not sure which.
Basically, all this boils down to one thing. Don't screw up the deal. Keep your mouth shut. Try to make everyhting as smooth as possible or else your stock will crash.
Eventually, they will crash. The truth is that back in the nineties, anybody with a tek, dot com, or an e in their name could expect to soar. Not because they were making good money, but because we were all crazy back then.
Just ask TheStreet.Com. They opened at 40 dollars a share back in '99. Today, they trade at around three dollars a share. They are a website that advises on stocks. Surely they could pull their company out of the muck. I'd like to show you some of the worse companies (DrKoop.Com, Snowball.Com, Pets.Com), but they don't exist anymore.
Google is just doing this at the wrong time, and when I say wrong time, I mean the wrong decade. Try the next one guys cause you aren't going to do well in this one.
They were all going to be millionaires. They were never going to work again. Then the market crashed, and they were afraid that they were never going to work again.
There are several great books about the tech bubble such as...
dot.bomb: My Days and Nights at an Internet Goliath
Dot.con : How America Lost Its Mind and Money in the Internet Era
All the Rave: The Rise and Fall of Shawn Fanning's Napster
Market's open. Later dudes.
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