30.7.05

I'm Short "First Post"

Been overrated for awhile, weak book value, its fundamentals suffer from a cap structure built for speed rather than earnings. The Posting Industry is driven by quality on a primary basis, while timeliness is a secondary or tertiary factor. We have seen the industry move away from the infatuation with "First Post" as the market moving slashdot segment has matured. Our economists expect...

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