Como se combate o populismo? "Com eleições", responde Fukuyama

[Incognitus]

Uma coisa engraçada do Microsoft Search é que o bot deles parece 10-15 vezes mais frequente que o dos concorrentes... isso a prazo é capaz de resultar em páginas melhor indexadas, e mostra "commitment".

[Ulisses Pereira]

"Beat Google's Shorts to the Cover"

By James J. Cramer
RealMoney.com Columnist
11/11/2004 9:09 AM EST

"The shorts in Google (GOOG:Nasdaq - commentary - research) have been seeded. You've got the shorts anticipating the lockup expiration. You've got the shorts off Microsoft's (MSFT:Nasdaq - commentary - research) search offering, Underdog. You've got the shorts that were put on because of the UBS sell recommendation -- does UBS still like any stocks?

So I guess it is time to buy. First, the Credit Suisse First Boston report says that not necessarily to expect everyone to exercise the right to sell on the next expiration. Second, the Microsoft search isn't much to write home about. Finally, why sell a company that could be valued at what might turn out to be 30 times next year's earnings? That's too cheap. You're going to sell it to buy Yahoo! (YHOO:Nasdaq - commentary - research) at 126 times earnings? Be my guest.

Look, we have no idea what Google's real earnings power is. We just know that it's an earnings machine and that the estimates most likely are still too low. I am throwing a $5 number out there because it's entirely possible that Google will deliver on such an outsized expectation. Stranger things have happened.

If I am so confident, am I going to buy it? Nah, this one's uniquely a trading vehicle. But I can tell when the shorts have overpressed their bets. When I read the columns about Microsoft's search engine, I think to myself, "This is no Google destroyer." Yet when I look at the puts bought and the shorts put out, I think some people were hoping for something better. They are disappointed. They will cover.

I think you have to beat them to the covering. "

(in www.realmoney.com)