Frederick Moran Quotes
Yesterday was very frightening. It felt like maybe the bubble was bursting on the Internet stocks. I'm not sure that that's truly the case, but clearly investors are scared right now and they're panicking a little bit. 
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Yesterday | Frightening | Felt | Bubble | Bursting |
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Right now neither stock reflects merger synergies. In fact, Time Warner, although it's getting taken over by AOL, reflects no takeover premium. We think as the deal comes together and they uncover some new business opportunities and synergies, they will drive valuation. I think AOL trades like a media company and in a way it really doesn't trade like an Internet company anymore. So either it's an undervalued media company relative to its growth prospects or it's a very cheap Internet company.
- Frederick Moran
