Dueling Opinions

Posted: September 25, 2006 in Uncategorized
What I’ve always found fascinating about the stock market is at any one point, exactly 50% of people think something will go up and 50% of people think something will go down.
 
Same go with the news and opinions that drive what people think.
 
 
 
Now there’s a study in contrast.
 
My take? 
 
(1)  Online ad company p/e’s (trailing or forward) match up well to 37% growth in first half ’06 online revenues… heck, they’d match up well even if the growth was smaller.
 
(2)  If tighter times are ahead, companies begin to reduce by cutting what’s difficult to test and/or expensive to initiate and/or hard to measure and/or just plain isn’t working.  Those are all offline advertising qualities, not online. 
 
More to the point:  Those are the very engines that make online advertising superior to offline and have propelled online advertising companies so far so quickly. 
 
Lest we forget this is a revolution based on performance, not hype.
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