Re: [Fortune] The Era of The Next Big Thing is over? Was it over when the Germans bombed Pearl Harbor??

From: Jeff Bone (
Date: Sat Mar 31 2001 - 04:44:52 PST wrote:

> Jeff Bone <> writes:
> > Yeah, Kragen --- how much of your net worth evaporated over the last
> > year?
> Who cares? Ill-gotten gains are better lost than kept.

"Ill-gotten gains." Hmph.

> If you're
> theoretically rich because you have a lot of something worthless

The market's never wrong, though I've come to believe it's a little...
excitable. ;-) I no more believe that CMGI trading dramatically under its
cash position is a correct reflection of its current value than I believe
that its peak value was justified.

> that
> a lot of people are stupid enough to pay you lots of money for, I
> don't see where you have a right to complain if the stupid people come
> to their senses and stop being willing to pay you hard money for
> worthless CMGi stock.

Kragen, you just have no idea. I'm not torqued that the stock price is
down --- maybe a little bummed, but hey --- I'm torqued about the impact
various regulatory and confiscatory gov't policies had on my strategy for
managing that asset myself.


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