At 10:25 AM 8/13/02 -0700, Mike Brunt wrote: >What blows my mind off the planet was the authors total lack of knowledge of >our business, what he obviously has no idea of is the pace of legacy >application to web application development going on. Obviously this in >mostly behind closed doors as most are Intranet type apps.
Even more obvious is the author's total lack of knowledge about his own business - to quote: "The stock market has been going down for three years. Heck, we're in a bear market -- especially for technology companies. So why, after massive declines had already taken place, did I downgrade the shares of Web-development software company Macromedia to 1 STAR, or sell? It had already fallen a staggering 63% year to date through August 7, the date I cut its rating. " So what he's saying is that somehow it took him a year to notice that tech stocks are in decline and if you're in for the fast buck, they aren't the things to buy? What a moron. Macromedia is putting out good products (that are beyond his comprehension) but like many tech companies, its stock price was probably over pumped by the bubble and is now over depressed because of the deflation of that bubble. He's a real genius to notice. Glad it only took him a year. If only I used him as my stock consultant, I'd sell my shares *after* they lost 67% of their value. The really funny thing is that this only hurts those who bought high when the bubble was rising. In late 98 and early 99, Macromedia was at virtually the same price it is now - so people who bought then (remember the phrase "buy low"?) aren't in any trouble - only those people taken in buy people like this guy who bought at the top of the curve. No offense to any stockbroker/stock analyst types out there, but one could hire a monkey to do a better job - in fact, a windup Santa outpeformed six out of ten analysts recently in the Globe and Mail. They year before that, a cat did better the majority for they year. The sad thing is that articles like this will have the same effect that the overly positive articles written during the bubble did (and I'm sure he wrote some of those too) - sway the simple minded to do things that aren't going to help them in the long run. And the downside of that is it might hurt Macromedia. We should get this guy's e-mail address and contact him about the column. T ______________________________________________________________________ Structure your ColdFusion code with Fusebox. Get the official book at http://www.fusionauthority.com/bkinfo.cfm FAQ: http://www.thenetprofits.co.uk/coldfusion/faq Archives: http://www.mail-archive.com/[email protected]/ Unsubscribe: http://www.houseoffusion.com/index.cfm?sidebar=lists
