I mean, first it's some nonsense about the France demanding Apple (AAPL - commentary - Cramer's Take) open up it's iTunes store technology. And now it appears that the mainstream media has decided to latch onto this new nonsensical French tech development(is that an oxymoron?):
Dow Jones Headline:
Le Google Francais
The French government plans to invest EUR2 billion (about $2.5 billion) to fund technology projects, including a Franco-German Google Inc. (GOOG) rival, InformationWeek reports. The multimedia search engine is called Quaero, which means "I search for" in Latin. The project, which will get $90 million from the French funds, aims to create an engine for computers and mobile phones.
Yeah, I'm sure a bureaucratic socialist entity with a small fraction of the bankroll of Google (GOOG - commentary - Cramer's Take), the fastest growing company in the history of capitalism, is really going to create a viable competitor. I'm not a buyer of Google right now, and I can think of about a million reasons to sell Google. A state-funded competitor from France sure as heck isn't one of them. Isn't it great how freedom works?
At the time of publication, the firm in which Willard is a partner was net long GOOG and AAPL, although positions can change at any time and without notice.
P.S. Will you be there when Cramer makes his next move?
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At the time of publication, the firm in which Willard is a partner was net long GOOG and AAPL, although positions can change at any time and without notice.
Cody Willard is the manager of a hedge fund, author of The Telecom Connection, a newsletter published by TheStreet.com and a contributor to the Financial Times and VON Magazine. He is also a regular guest on CNBC's Kudlow & Company and an adjunct professor at Seton Hall.
He earned a bachelor's degree in economics at the University of New Mexico.
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