A weatherman would describe the ‘cloud’ situation in technology as :
‘It is extremely cloudy with a 99 percent chance of flash thunderstorms’
Americans don’t buy anything, we are sold everything. We never bought our homes, but were sold the paper. We loved Tiger Woods the golfer, but were sold his Nike gear, Gatorade and Tag Heuer watches. Don’t get me going on Accenture and who they sold using Tiger as their pitchman. As Frank Rich eloquently writes in his op-ed piece in The New York Times ‘Tiger is PERSON of the Year ‘.
If Tiger was the Times person of the year, the ‘cloud’ was the World Wide Web’s thingy of the year. Wikipedia says…’the term cloud is used as a metaphor for the Internet ‘ . I say AT&T sucks balls.
So yes I believe they year 2010 $twentyten will see a crash as everyone is in the ‘cloud’ pool. Amazon $amzn is the lifeguard in the cloud pool and although I am long and have been for a long time, I expect to get hammered at some point.
The good news is it will be a buying opportunity.
Disclosure – Long Clouds.