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Daily News, New York, Peter Siris Column.
Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News) Publication Date: 08-MAY-01 |
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COPYRIGHT 2001 Daily News
Byline: Peter Siris
May 8--Maybe people who've been listening to me think I hate the Internet. Well, it's confession time: I love the Internet. I trade stocks, buy tickets, book trips and buy office supplies on the Web.
So, why was I so negative on Internet stocks?
Valuations were crazy. It was ludicrous when Priceline.com was worth more than seven of the largest airlines. Further, most Internet companies had no clue how to make money. They focused on computer clicks and attracting Net surfers, and not on gross margins and profits. And they did not control turf. While some Wall Street...
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