Sunday, May 4, 2008

Yahoo plays poker and loses

Yahoo's Jerry Yang turns down $33 from Microsoft, saying he wanted $37 instead, or else he outsources search to Google! So Mister Softee walks away!

"Legendary" investor Bill Miller of Legg Mason was proclaiming that Yahoo was worth $40 a share. You talk your book when you own 85 million shares!

Now Jerry Yang loves 37, Bill Miller loves 40, but Yahoo shareholders now get to meet Jim Carrey and the number 23 because they didn't like Ballmer's 33!

Bill Miller said that Countrywide Financial, now a ring size at 5, was worth $40 also, and he outlined these reasons in his third quarter letter to shareholders!

Bill Miller says the stock is worth 40, and Laura Martin, of Soleil Securities, says the stock will fall to 20.

This is management putting its employees and its job security ahead of current Yahoo shareholders' interest.''

She estimated Yahoo shares will fall $8, or 28 percent, tomorrow as Microsoft's withdrawal, combined with concern about the economy and the advertising market, weigh on investors. The stock has gained 49 percent since Microsoft's bid on Feb. 1.

So I guess this is Wall Street's example of showing that "40 is the new 20!"

Maybe Jerry Yang should of contacted the other Jerry Yang who won the World Series of Poker.

At least he knew when to bluff, and when to fold em!

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