Keith Watanabe * NET 2.0

when i said that google wasn't a great buy, i wasn't kidding. last few days/weeks saw google go from 400/share to 340/share. and i expect them to plummet further. problem is that no one really understands google, nor their true value. they are, indeed, the new Microsoft in having tremendous amount of cash flow to handle their business. but what is their business? they say search but that's not so obvious. either way, it's hard to say what they should be valued at. people like to create markets in this manner so it seems and then destroy them as well. earnings-wise, i don't think google has an issue. but i don't understand their real net worth so i wouldn't touch them until they've been around for another 10 years.