My fingers are crossed. Please start a war for
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might make a $17 billion bid for @Home. As someone who sold his Yahoo! precisely because I feared that it would keep using its currency as a club to knock the competition, I can't say I'm surprised.
I kept my @Home, though, because I regard it more as a transmission company, a company that helps the Net move forward. That's where money can still be made, I think, because the more money the Internet sector raises, the more the telco-tech companies get.
That said, I am more than happy to cash out of @Home up here if Yahoo! wants my stock. I don't know of many other companies that have the currency to link up with this company. I will use this alleged bid to move further out of new tech and into safe, humdrum old tech that has gotten new life from the Net.
I will revisit the Net come fall and pick among the bargains. As the sector is still up huge for the year, I think further consolidation is necessary, and a cessation of underwritings must take place, before a sustained move can occur.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Excite@Home. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at