10-03-2007, 11:45 AM
Quote:Henry Blodget made his name by predicting outlandish price increases for Internet stocks in the late nineties. A lot of people lost a lot of money (or, all their money) by listening to his recommendations. The government charged him with securities fraud in 2003 and he was subsequently banned from the securities industry for life.
But Blodget is a bit of a one trick pony, and he likes to stay in the headlines. So he continues build cases for big valuations of Internet companies. The only difference is he publishes these thoughts on his blogs. And people still listen to what he has to say...
When hes talking about Facebook being worth $6-$20 billion thats ok, because it isnt a public stock and no one is going to go out and throw away their life savings. But when he builds a case for Googles stock to go to $2,000/share, hes crossing a line...
full article: http://www.techcrunch.com/2007/10/02/goo...e-blodget/