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A big new opportunity

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May 23, 2008 – Comments (2)

...uh, I mean for me, not you. Here at long last, is the first pick for The Fleabagger Portfolio. If that link does not work, copy and paste:

http://fleabaggerportfolio.blogspot.com/ 

So anyway, this is a prestigious day for me. And you can participate. Just go to TFP, buy the pick, and click on the ads and sign up for the ebrokers and skanky-looking penny stock ezines that Google has deemed fit for my blog. With your help, I may be able to make my blog even better by quitting my job to spend more time on it. (Actually, I just got laid off, but if you hurry, I might not have to get another job.)

2 Comments – Post Your Own

#1) On May 23, 2008 at 10:52 PM, IBleedConcrete (55.61) wrote:

Looks good, good luck with your blog.

Nasdaq is also my largest position, with an average cost basis of $36.  I've looked at every other exchange I can find and it seems way undervalued compared to its peers and on an absolute PEG & balance sheet basis.

One thing you did not mention is the Pan-European Market they will start in September.  From what I understand, existing exchanges don't need very much continuing capital investment but new projects require a lot more cash flow and introduce more risk.

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#2) On May 24, 2008 at 5:04 PM, FleaBagger (28.84) wrote:

Thanks for the info. I didn't really know about the Pan-European Market as such, but I thought it was OMX's existing presence in Europe. I will update the post on TFP accordingly (because I can do that on Blogger).

I did look all over the internet for someone making a bear case on NDAQ, and all I found was Jim Cramer saying that it was American, and so he liked NYSE better, because it was European with an American tail, or some crap like that.

The bottom line for me is that Nasdaq's management has shown the consistent ability to generate growing free cash flow and profits, outmanoeuver the NYSE, and build the power of their brand. (When anyone anywhere thinks of U.S. tech stocks, what do they think of? The Nasdaq100.) That sounds like a laundry list of corporate buzzwords, and the fact that they not only know what they mean, but are actually accomplishing them, is astonishing.

I'm happy to hear you have a lot of money invested in a stock with a lot of growth potential, good management, a dominant brand, and a cheap price tag. (My cost basis is lower than yours =P, but I don't have that big of a position.)

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