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Subject: Re: UKNM: AOL did well - what value internet stock?
From: Ray Taylor
Date: Tue, 11 Jan 2000 14:23:38 GMT

From: chris <chris [dot] lockeatfeeshes [dot] freeserve [dot] co [dot] uk> asks:

> >But in my view much internet stock _is_ overvalued, mostly because the
> company >does not understand well enough how to build real value.
>
> Wha? what the hell are you trying to say?

On the one hand: some internet stock is overvalued.

On the other hand: some internet stock is undervalued, even though you might
think it is overvalued.

The difference? The ability of the management team to consistenty add real
value and to convert magic money to tangible(ish) assets:

1. Loyal customers, users, etc
2. Valuable content
3. Sound business relationships
4. Effective management systems
5. Unique technology implementation
6. Unique selling points

etc

Of course it could be argued that AOL has stepped off its wobbly ladder at
just the right time but the effect of the merger is the same. AOL Turner is
now the biggest media organisation in the known universe with an undeniable
asset value.

Ray Taylor


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  Re: UKNM: AOL did well - what value inte, chris

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