"It's a plumbing of the Internet/fibre play. Well, actually, it is more of a portal play, with a business-to-business kind of e-commerce angle that increases bandwidth and could be the next Cisco (CSCO) - Get Report. "
While we are waiting for the
, I took an hour off to read a stack of Internet-derived research. I am convinced that when you read any of those terms, you are being snowed alive. They mean nothing. They are just buzzwords designed to make it so you don't have to really explain what a
does. Take the plumbing of the Internet/fibre play. What the heck does that mean? Sounds like a mixture between
And B-to-B, let's leave that to
James Earl Jones
. Next Cisco? I would settle for the possibility that one of these companies could be the next
B-to-B seems like alchemy to me. It just replaces one way of doing business with another, saving the provider some bucks in the process.
Big deal, not a lot of wealth creation there. In fact, if the old-line companies knew what they were doing, there would be no B-to-B; there would just be a better, more efficient way to order and do business.
But my favorite is what a prominent venture capitalist whom I had dinner with last night scrawls on 50 deals he sees a day: "YAASS," shorthand for it ain't getting his money because it is "Yet Another Advertiser-Supported Site." As the VC said to me, even if all of the advertising were to gravitate from print to the Net, it would still not be enough to make any of these companies profitable. He thinks they'll all go broke. I think he is right.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Cisco, Redback and InterNAP. 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