putting out meaningless sound bites like the one he just did on NFLX. Basically said NFLX was too high risk because of WMT and BBI, even though big companies have historically had trouble competing with the online leader, and that BBI and WMT may take 2-3 years to get it right.
Hello? tell me something new, and try a little inflection in your monotone drivel.
What kills me is the article and this Harmon "piece" got picked up by everyone proclaiming the 17% early morning fall.
Where were all these savvy reporters when NetFlix went up 20% the day before unlock day...a record this year against all other IPO's and only 3% points against cracking the top 10 on the Nasdaq for top % gainers??
I follow a strategy of investing opposite to Steve Harmon's advice. I don't mean to be harsh and this is no challenge of his intelligence but he appears to follow a herd mentality of investing that never works.
He seemed to broadly support internet stocks as they skyrocketed, now generally pans them as they are out of favor. As you see by my username, i was very bullish on paypal which he really panned with little understanding of the actual business (as he does here with his knee-jerk competition argument). Subsequently, paypal has provided a fantastic return.
the contrarian harmon investing discipline says buy- i'm going for it...we'll see how things shape up over the coming quarters.