Posted on September 15, 2008
Filed Under Dramanomics |
Another gem was sent to me over the weekend by a reader of The Drama 2.0 Show.
Some “investor” named Howard Lindzon who is apparently a popular blogger posted an inane rant about how the gubment is going to mess the Internet up. The “catalyst” for his rant is the fact that United States Justice Department may be preparing to file an anti-trust lawsuit against Google over its search advertising deal with struggling
competitor former foe Yahoo.
According to Lindzon, the people in government just don’t get it:
First of all…have the fucknuts checked out YouTube’s abysmal advertising numbers? Or Google’s stock price since the YouTube acquisition? (pretty flat)
Have the asshats heard of API’s?
Has McCain ever sent an email using gmail?
Has Bush ever searched ‘Texas Brothel’ ????? because if he did there would be no lawsuit, just tax incentives….you get my point.
We seem close to greatness, but instead, we are on the verge of huge setbacks. It’s not just the yutz’s in charge of our government, though that is enough to slow us all down. How about Comcast trying to throttle down our usage. That’s creative! Even Apple with it’s iPhone crappola and AT&T stoneage partnership from hell.
Despite the yutz’s and putz’s trying to slow the train down, the internet will continue to seek and destroy the old guard…
The rest of Lindzon’s crazy rant isn’t worth posting here.
Nothing Lindzon writes has anything to do with anti-trust law, which of course has nothing to do with YouTube’s revenue numbers, APIs, Google’s stock price or John McCain’s lack of a GMail account. Lindzon’s post has everything to do with his narrow perception of reality that is apparently dominated by the Internet.
Also included in the email I was sent was a link to with tech|ticker, which I have to admit I just might start watching again because it seems to be producing great source material on a consistent basis these days.
In his interview, Lindzon states:
I just don’t trust them [the regulators]. John McCain’s running for president…he mocks that he doesn’t use email…these regulators are not 25 years old…these guys are 60 years old and maybe use email, just started using a Blackberry…
The horror! Older people with some life experience run governments? And they just started using Blackberrys? My god!
In this interview, Lindzon calls Google’s stock, which he holds, a buy as it approaches $400. He’s even buying it for his kids. Note to Timmy and Sally: community college isn’t that bad.
Lindzon bases some of his sentiment on the fact that ex-Googlers are supposedly telling him that they’re buying GOOG. Some of these ex-Googlers are even apparently doing so via Twitter. If that isn’t the type of information that should be factored in to an investment decision, I don’t know what is.
Incidentally, I’d suggest that Lindzon’s rant might have something to do with the fact that if he’s been long Google stock for the past few months, he’s lost a shitload of money holding it on the way down.
After all, the last thing he needs now is for the government to come in and keep Google from establishing a monopoly. Don’t the assholes in Washington know that Howard Lindzon is losing money?
But I digress.
Lindzon’s rant is particularly amusing to me given that the tagline on his blog is “TRENDS - Find them, ride them and get off!”
As I pointed out when I discussed the Cakedex social stock index (which, incidentally, is down more than 10% this month already), GOOG is in a sustained downtrend. Here’s the latest daily chart from this morning:
This is not a stock a smart trader is holding and it’s certainly not a stock that a smart trader is buying. Smart traders have been riding this trend short and taking Lindzon’s money all the way down.
Interestingly, Lindzon knows that he’s bucking the trend. He tells tech|ticker:
By all my trend measures, the trend is broken right now…
Not the downtrend, Howard. What trend have you been looking at?
Ironically, in another tech|ticker interview, Lindzon :
I think when you have this much uncertainty, anybody who says they know what’s going on, you should run from.
He also states that right now, the investment environment is not very good and that his gut feeling is that the next big move is going to be “much further down.”
Which means, of course, that GOOG is a screaming buy, right?
My only question: where does tech|ticker find these people?
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