Tuesday, September 05, 2006


EWEB's latest bright idea

A lousy day today: down 0.3 percent, largely on account of EWEB. EWEB seems to want to reinvent itself on a monthly, if not weekly, basis. First it was an ISP. No wait, then it become an IT consulting company. No wait, then it became a real estate company. No wait, then it became a venture capital fund supplying money to semiconductor start-ups. All within the space of 3 months!!! I'm sure today's big discovery of oil in the Gulf will prompt the company to go into oil drilling!

Most investors now regard EWEB's management as one big giant clown show. I must admit I am inclined not to disagree, but at the same time, some perspective is in order. This is a company that was able to build a large ISP in Central Europe, and eventually sell if for $30 million. So I am willing to give EWEB a bit more slack, but I must admit, my patience is wearing thin. So far I've lost about $15 thousand on this stock, by far my biggest loss of the past two years. But for better or for worse, I refuse to bail on the company, a decision which I know may eventually come back to haunt me.

dividend distribution likely IMO
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