http://staging.blog.biakelsey.com/index.php/2005/06/08/Bubble-Redux/ LOCAL MEDIA WATCH. The Nexus of All Things Local Mon, 01 Jun 2015 22:23:47 +0000 hourly 1 https://wordpress.org/?v=4.2.39 http://staging.blog.biakelsey.com/index.php/2005/06/08/Bubble-Redux/comment-page-1/#comment-310 Wed, 08 Jun 2005 00:00:00 +0000 #comment-310 It seems to be 1999 all over again. There is no way, even given Google's impressive performance, that a market cap of 27X revenues (forget profits) can be justified. Irrationale exuberance has reappeared and there can be no doubt that history will indeed repeat itself.

]]> http://staging.blog.biakelsey.com/index.php/2005/06/08/Bubble-Redux/comment-page-1/#comment-311 Tue, 07 Jun 2005 00:00:00 +0000 #comment-311 There's bound to be a disappointing quarter somewhere along the way. Given the inflated expectations, people will overreact when that ultimately happens.

]]> http://staging.blog.biakelsey.com/index.php/2005/06/08/Bubble-Redux/comment-page-1/#comment-312 Tue, 07 Jun 2005 00:00:00 +0000 #comment-312 Google’s present apparent “Midas touch” seems to be in part due to Google’s unorthodox non-transparency in its’ dealings with many of its constituencies. As Google does not allow analysts or media at its’ annual shareholder meeting, does not provide earnings forecasts and does not disclose its ad prices or its revenue shares with content affiliates (not even to the affiliates themselves), Google itself may serve as a convenient scapegoat for financial analysts if their unscrutinized earnings estimates do not materialize.

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