My biggest fear with the likes of amazon, google, yahoo, and wikipedia is the amount of free information or services that are provided. Eventually it plays a toll on the economy which hasnt been felt yet.
But look at airlines. First the federal government placed costly oversight on them, then discount carriers eroded their earnings, and now fuel prices have destroyed earnings causing massive bankruptcies.
Yes the products and sevices have decreased but there does come a point when the straw breaks the camels back. It may be starting.
As I write this I am thinking about Microsoft. First the governments of the world have forced them to conduct their business in a less profitable manner, the likes of google and facebook and apple have eroded their market presence, but will be the foot that causes Microsoft to have a earnings yield in excess of 5% ?????
That stock will be a buy when Barrons makes some funny crack about the share price and its name.
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