Thursday, February 06, 2003
IN CASE OF BOMBING, BUY INTERNET STOCKS?
A Brief Memo to CBS MarketWatch
To: CBS MarketWatch
From: Jim Capozzola
Re: Military-Related Catalysts for Internet Stocks
Date: February 6, 2003
I strongly advise your editors not to assign stories to interns or reporters who obviously are not up to the task at hand.
I submit for your consideration the following story, posted by CBS MarketWatch at 11:14 a.m., Eastern Time, on February 5, 2003:
Net stocks jump as Powell shows evidence against Iraq
By Bambi Francisco
Internet stocks rose Wednesday as Secretary of State Colin Powell made the case for war against Iraq. Yahoo (YHOO) gained 1 percent to $17.93; EBay (EBAY) added 1 percent to $73.96; Overture (OVER) gained 4 percent to $23.20; Hotels.com (ROOM) rose 10 percent to $42.57; Expedia (EXPE) added 4 percent to $58.60.
Although I believe this piece, particularly in hindsight, speaks, or doesn’t, for itself, I will add here that unless I’m missing something -- and I doubt it, having spent the last 16 years working in financial journalism and securities research -- Ms. Francisco’s news brief makes no sense whatsoever.
Am I to assume that once the U.S. invades Iraq investors should expect to see a massive rally in internet stocks?
Could you spare a few moments for an explanation?
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JAMES MARTIN CAPOZZOLA
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James Martin (Jim) Capozzola launched The Rittenhouse Review in April 2002, TRR: The Lighter Side of Rittenhouse, HorowitzWatch, and Smarter Andrew Sullivan in July 2002, and Bulldogs for Kerry-Edwards in October 2004. He is also a contributing member of President Boxer.
He received the 2002 Koufax Award for Best Post> for "Al Gore and the Alpha Girls" (published November 25, 2002). Capozzola's record in the Koufax Awards includes two additional nominations for 2002 (Best Blog and Best Writing), three nominations for 2003 (Best Blog, Best Series, and Best Writing), and two finalist nominations in 2004 (Best Blog and Best Writing).
Capozzola’s experience beyond the blogosphere includes a lengthy career in financial journalism, securities analysis, and investment research, and in freelance writing, editing, ghost-writing, and writing instruction.
He earned his bachelor's degree in political science from the University at Albany and a master's in foreign affairs from the University of Virginia.
Capozzola lives in Philadelphia with his bulldog, Mildred.
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